TEL-AVIV, ISRAEL-Gazit-Globe, one of the world's top multi-national real estate companies focused on supermarket-anchored shopping centers, has closed its public offering of 10,439,020 shares on the Tel-Aviv Stock Exchange, with a closing price of approximately $13.25 (NIS 47.9) per share.
The proceeds, approximately $138 million (NIS 500M), are intended for use for general corporate purposes and to reduce outstanding lines of credit, the company said in a statement.
“The successful completion of this offering reflects our ongoing commitment to strengthen our balance sheet and increase the liquidity of our shares. This equity raise, together with our $238 million (NIS 860 million) long-term debt raise last week, provides our company with great flexibility to take advantage of growth opportunities in global real estate markets," said Roni Soffer, president of Gazit-Globe.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
