Investment manager

The American investment manager BlackRock declares to hold 3% of the capital of Bank Hapoalim

Global investment manager BlackRock Inc has a 3% stake worth around NIS 1 billion ($ 308 million) in Bank Hapoalim Ltd., the Israeli lender said in a filing on the Stock Exchange in Tel Aviv Sunday.

BlackRock informed the bank of its holdings at the end of March 2021, in a notification dated April 29. The U.S. investment manager said he and his subsidiaries currently hold a 3.01% stake, equivalent to 40,306,222 shares in the bank.

According to Israeli regulations, investors who have a stake greater than 2.5% in a bank that does not have a controlling shareholder must declare their holdings. A stake of more than 2.5% makes the investor a “significant stakeholder”.

According to the financial site Calcalist, BlackRock is the only foreign shareholder with the designation of “significant stakeholder” for the Hapoalim bank. BlackRock also owns a 3.3% stake in Bank Leumi Le-Israel, Calcalist said.

Hapoalim bank does not have a majority shareholder, billionaire Shari Arison having sold his 20% stake in the Israeli lender since 2018. Arison now holds 11.35% of the bank’s capital.

With a market capitalization of $ 125 billion on the New York Stock Exchange, BlackRock manages more than $ 8 trillion in assets. Bank Hapoalim has a market capitalization of 35 billion shekels ($ 11 billion) on the Tel Aviv Stock Exchange.

Are you serious. We appreciate this!

That’s why we come to work every day – to provide discerning readers like you with must-see coverage of Israel and the Jewish world.

So now we have a request. Unlike other media, we have not set up a paywall. But since the journalism we do is expensive, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel community.

For as little as $ 6 per month, you can help support our quality journalism while benefiting from The Times of Israel WITHOUT ADVERTISING, as well as access to exclusive content reserved for members of the Times of Israel community.

Join our community Join our community Already a member? Log in to no longer see this


Source link