Fidelity Sells Majority Stake in NextVision for $350 Million
Translated & summarized from Calcalist by baba
The story in 5 lines · by baba
- Fidelity sells most of its NextVision shares for 1.3 billion shekels.
- Foreign entities bought the majority of the 5.7 million shares sold.
- The sale represents a 7% discount on the market price.
- Fidelity will cease to be a significant stakeholder after the sale.
- Fidelity built its stake in NextVision over 2025.
Fidelity, a major investment firm, is selling most of its shares in NextVision for approximately 1.3 billion shekels (about $350 million). The sale comes about a year after Fidelity acquired nearly 10% of the company. Investment bank Goldman Sachs is currently distributing 5.7 million NextVision shares, with the majority purchased by foreign entities estimated to have spent around 1 billion shekels.
The shares were sold at a 7% discount to the market price. NextVision's stock closed at 244 shekels per share, making the transaction price approximately 227 shekels per share. Prior to this sale, Fidelity held 8.8 million NextVision shares. By selling 5.7 million shares, nearly two-thirds of its holding, Fidelity will retain about 3.1 million shares and will no longer be considered a significant stakeholder.
Fidelity built its stake in NextVision in two phases during 2025. Initially, it acquired shares on the stock exchange until May, and later invested $200 million as part of the company's capital raise in September. Fidelity, established 80 years ago, is one of the world's largest asset management companies, managing $20 trillion in assets and employing over 80,000 people.
