Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🎁 Free Gift Friday: Copy Legendary Investors' Portfolios in One ClickCopy for Free

Real estate firm Gazit-Globe raises $155 mln in share offering

Published 2015-12-31, 02:32 a/m
© Reuters. Real estate firm Gazit-Globe raises $155 mln in share offering

TEL AVIV, Dec 31 (Reuters) - Israeli real estate developer
Gazit-Globe GZT.TA said on Thursday it raised 604 million
shekels ($155 million) in a share offering on the Tel Aviv Stock
Exchange.
The company sold 17 million shares at 35.5 shekels a share.
Norstar Holdings Inc NSTR.TA , which owns 50.25 percent of
Gazit-Globe, bought 8.5 million of the shares at a total cost of
300 million shekels.
Gazit-Globe GZT.N said it will use the proceeds from the
offering to refinance its debt and for general corporate
purposes.
"The offering will allow the company to maintain a strong
balance sheet and high liquidity for the benefit of the
company's operating activities while strengthening its ability
to identify and execute new investment opportunities in its core
activity," said Chief Executive Rachel Lavine.
The company, whose share price has fallen 24 percent this
year to close at 35.2 shekels on Wednesday, has a market value
of 6.3 billion shekels.
It 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 = 3.9007 shekels)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.