Altshuler Shaham Provident Funds’ pension is approaching the Tel Aviv Stock Exchange
According to market estimates, the provident and pension company intends to become public by the end of June until the beginning of July. The market estimates that the estimated value of the company’s issue will range between NIS 700-850 million, but it is not inconceivable that Altshuler Shaham Provident Funds and pension will agree at least to a higher price tag Billion shekels
About a month and a half after it became known that the largest provident company in the Israeli market intends to become a public company traded on the Tel Aviv Stock Exchange, it now turns out that it is expected to issue its shares early this summer. According to market estimates, Altshuler Shaham Provident Funds and Pensions, the long-term savings management company controlled by the investment house Altshuler Shaham, has hired the services of Leumi Partners and Rosario, which will be assisted by an IPO in Poalim IBI, Leader, Epsilon and Menorah Mivtahim – With the intention of becoming public at the end of June until the beginning of July.
According to market sources, this is a very challenging timetable, although it is reasonable to assume that the company will complete the issue in July. According to market estimates, the value at which the company will issue will range from NIS 700 to 850 million. However, it is not inconceivable that Altshuler Shaham Provident Funds and pensioners want to see a higher price tag of at least one billion shekels.
The board of directors of Altshuler Shaham Gemel and Pension Funds approved last week the submission of a first draft prospectus for an initial public offering by means of an offer to sell the Company’s shares. In other words, the issue will be a kind of “exit” for the company’s current owners, who will issue 20% to 30% of the company’s shares. By the way, if and when the issue is completed, Altshuler Shaham Provident and Pension shares are expected to join the TA-90 and TA-125 indices.