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Tel Aviv Stock Exchange to Resume Trading in "Tomer Food" Shares
The Tel Aviv Stock Exchange will resume trading in Tomer Food shares on Wednesday, two months after a suspension due to accounting irregularities. The company has taken corrective actions, including amending financial reports and removing founder Doron Kimelov from his chairman role.
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What happened
- 01Tomer Food shares will resume trading on the Tel Aviv Stock Exchange on Wednesday.
- 02Trading was suspended for two months due to accounting irregularities in inventory management.
- 03Founder Doron Kimelov will be removed as chairman due to his influence on inventory valuation.
- 04The company reported a first-half net loss of NIS 21.3 million.
- 05Sales increased by 7.8% to NIS 129.5 million in the first half.
- 06Gross profit margin declined to 19.4% in the first half.
Tomer Food reported a net loss of NIS 21.3 million for the first half of the year, with declining profit margins attributed to various factors.
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