Altshuler Shaham Stock Surges 10% After Control Sale Report
The stock of Altshuler Shaham, a major Israeli investment house, jumped 10% on the Tel Aviv Stock Exchange following a report by the financial newspaper Calcalist. The report revealed that the controlling shareholders, Gilad Altshuler and Kalman Shaham, are considering selling their controlling stake in the publicly traded company.
Altshuler Shaham Finance is 55.4% owned by Altshuler Ltd., which is in turn held by Gilad Altshuler (43.4%) and the Shaham family (44.12%). The Shaham family includes Kalman Shaham, his wife Ilana, and their three children: Ran, Lior, and Asaf. Yair Levinstein, who manages the public provident fund company, holds 14.8% of Altshuler Shaham Finance, with the remaining 29.7% held by the public.
The company manages NIS 112 billion (approximately $30 billion USD) and is currently valued at NIS 1.4 billion ($380 million USD) on the stock exchange. Ran Shaham serves as the company's chairman. The stock has seen significant gains recently, rising 20% in the past month and 30% over the last six months.
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