Businessman Jeremy Blanck Buys Bazan Shares Amid Stock Drop
Translated & summarized from TheMarker by baba
Businessman Jeremy Blanck purchased Bazan Group shares worth approximately 23 million shekels on Monday. He acquired the shares at 1.9 shekels each as the company's stock dropped 7% due to maintenance-related pollution. Blanck had previously sold 100 million shekels worth of Bazan shares last month.
The story in 4 lines · by baba
- Jeremy Blanck bought Bazan shares worth 23 million shekels on Monday.
- Bazan's stock fell 7% on Monday due to pollution from refinery maintenance.
- Blanck previously sold 100 million shekels of Bazan stock last month.
- The shares were purchased at 1.9 shekels per share.
Businessman Jeremy Blanck has reacquired a significant stake in the Bazan Group (Oil Refineries Ltd.), purchasing approximately 12 million shares for about 23 million shekels. He bought the shares at 1.9 shekels each on Monday, a day when the company's stock fell 7%. The decline was attributed to pollutants released during maintenance work at the Haifa Bay refineries.
This purchase marks Blanck's return as a major shareholder in Bazan. Last month, he sold shares worth 100 million shekels, a move that had reduced his interest in the company.
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