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Real estate firm Gazit-Globe eyes Tel Aviv stock offering

Published 2015-12-28, 04:01 a/m
© Reuters. Real estate firm Gazit-Globe eyes Tel Aviv stock offering

TEL AVIV, Dec 28 (Reuters) - Gazit-Globe GZT.TA , Israel's
largest real estate investment company, said on Monday it is
examining the possibility of raising money through a public
offering of its shares on the Tel Aviv Stock Exchange.
Norstar Holdings Inc NSTR.TA , which owns 50.25 percent of
Gazit-Globe, said in a separate statement it plans to buy at
least half of the shares in the offering.
"As of the date of this announcement there is no certainty
that the stock offering will take place," Gazit-Globe said in a
statement to the stock exchange.
The company, whose share price has fallen 25 percent this
year, did not provide details on the scope or timing of the
offering.
Gazit-Globe, with a market value of 6.4 billion shekels
($1.65 billion), operates in the United States through Equity
One EQY.N and in Canada through First Capital Reality Inc
FCR.TO . It is the largest shareholder in Finland's Citycon
CTY1S.HE , controls shopping mall developer and is expanding in
Brazil.
($1 = 3.8834 shekels)

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