Ocif skyrocketed 18% on Gaydamak takeover as Tel Aviv stocks roared
Bank stocks soared: Hapoalim shot up 4.8% on the day's highest turnover, NIS 220 million
Shares in real estate company Ocif shot up 18% on heavy turnover today after Russian-Israeli billionaire Arcadi Gaydamak bought the company a a billion-shekel valuation, well above its starting market capitalization on the Tel Aviv Stock Exchange on Wednesday.
In keeping with the holiday mood, Israeli stocks shot up Wednesday on heavy turnover of almost NIS 2 billion.
The TA-25 index gained 2.4% to 1,028 points and the TA-100 index added 2.2% to 1,024 points. The Tel-Tech 15 index didn't budge, however.
The highest volumes of trade today were in bank shares. Shares of Bank Hapoalim soared 4.8% on the day's highest turnover, NIS 220 million. Leumi wasn't far behind with a gain of 3.3% on the second-highest volume of trade.
As for Ocif, Arcadi Gaydamak agreed to buy it for a price 85% above its market capitalization. The deal fueled gains throughout the real estate sector: the Tel Aviv Real Estate-15 index gained 2.2% as Ocif added 18%.
You may have been sweating over holiday meals but Ilik Rozanski was sweating to pus Delek Global Real Estate onto the London stock exchange. Ultimately, he had to accept a 25% discount to the hoped-for market valuation, and settle for $1.04 billion.
Instead of raising 150 million pounds, DGRE scored only 100 million pounds. Tel Aviv-traded Delek Real Estate will be posting capital gains in the range of NIS 300-480 million on the deal and its shares rose 2% today.
Another real estate stock, Africa Israel, gained 3.5%. Inside a month the stock has risen 24%. Today it announced a new project, in the Czech Republic, at an apparent investment of 200 million euros.
Jerusalem Economic Corporation, a real estate company in the Eliezer Fishman group, gained 4.5%.
Turnover in ICL - Israel Chemicals - was the third-highest on the floor, at NIS 125 million. The stock gained 1.8%.
In a sign of the times, KSM Short focused much attention, ending on turnover of NIS 47 million, and dropping 8%.
Teva shares gained 1% on weak turnover, for it, of NIS 77 million.
Like us on Facebook and get articles directly in your news feed