El Al Israel Airways Ltd. (TASE:ELAL) controlling shareholder Kenny Rozenberg has efficiently accomplished a proposal to buy, growing his stake from 44.95% to 49.95%. The supply to buy was accomplished on the third try at NIS 4.20 per share.

Amongst these promoting shares have been the state, which decreased its holding from 11.80% to 10.13% and former controlling shareholders the Borowitz household, which decreased its stake via Knafaim Holdings from 6.19% to five.24%.

Rozenberg turned El Al’s controlling shareholder in 2020 after investing NIS 360 million as a part of a TASE providing carried out to avoid wasting the airline from collapsing throughout the Covid pandemic. Subsequently Rozenberg injected an extra NIS 166 million into El Al for added shares and prolonged the $70 million proprietor’s mortgage.

Thus far, Rozenberg has misplaced a whole bunch of thousands and thousands of shekels on the funding. However he’s banking on the present reserving growth within the tourism trade persevering with with El Al reporting its largest quarterly revenue since 2015 within the fourth quarter of 2022.

Printed by Globes, Israel enterprise information – en.globes.co.il – on April 20, 2023.

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