Delek Global Real Estate raised ₤100 million on the AIM.
Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Real Estate Ltd. (TASE: DLKR) expects to report a capital gain of NIS 380-480 million on the IPO of sub-subsidiary, Delek Global Real Estate Ltd. on London’s Alternative Investment Market (AIM). Delek Global issued 50 million shares, 19.2% of its share capital, at ₤2 per share, raising a gross $100 million.
The underwriters, Merrill Lynch International and Panmure Gordon has a green shoe option amounting to 2.3% of Delek Global. If exercised, 21.5% of the company’s share capital will have been offered.
Delek Global and its direct parent company, Delek Belron International Ltd. (TASE:DLKI.B1) signed an agreement, under which Delek Belron will not sell Delek Global shares for 270 days from the date of the IPO.
Published by Globes [online], Israel business news - www.globes.co.il - on April 4, 2007
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