The company plans to raise NIS 40 million in shares and the rest in bonds and warrants.
Malibu Israel Ltd. has filed a prospectus for the issue of shares, bonds and warrants on the Tel Aviv Stock Exchange (TASE). Capital market sources told “Globes” that the company wants to raise NIS 120 million, including NIS 40 million in shares, at a company value of NIS 160 million. The offering will be on the basis of Malibu’s financial report for 2006, which means that it will be held by May.
Poalim IBI Underwriting and Investments Ltd. (TASE:PIU) is expected to lead the offering.
Malibu Israel was founded in 2002, and is the Israeli development arm of Malibu Investments Inc. of Canada, which is building 3,300 housing units in six projects in the Toronto area. The expected sales proceeds of these projects is NIS 3 billion.
Malibu Israel was traded on the TASE during the 1990s, but was delisted when Malibu Investments made a successful offer to purchase.
Published by Globes [online], Israel business news - www.globes.co.il - on March 18, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007