Shikun & Binui Stake Sold for $120 Million, Stock Dips
Shikun & Binui, a major Israeli real estate and infrastructure company, has seen a significant portion of its shares sold. Businessman Mordechai "Moty" Seidof divested 4% of his holdings in the company for NIS 450 million (approximately $120 million USD). Following this transaction, Shikun & Binui's stock price experienced a 4% decline.
The sale comes about a year after Seidof took control of Excellion, another company. Details regarding a specific allocation of shares to a Mr. Hershtik, which were reportedly not paid for, were also mentioned in relation to this period.
In separate financial news, Discount Bank successfully raised EUR 500 million through a mortgage-backed bond issuance abroad. The US dollar has weakened against the Euro and Pound Sterling, falling 1% against the Japanese Yen, while oil prices have also seen a retreat of over 1%.
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