Hamashbir Lazarchan on its way to the TASE

May 4, 2007 03:43


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief


Hamashbir Lazarchan Israel Ltd., the private retail chain, is planning an initial public offering on the Tel Aviv Stock Exchange, which could take place by the end of this month at an estimated value of between $80 million and $100m, The Jerusalem Post has learned. As part of the IPO process, Hamashbir reported this week that Mercantile Provident Funds, which holds a 9.99 percent stake in the retail chain, would sell 5% of its holding. Mercantile Provident Funds, which purchased the stake in June last year for $5.5m. on a company value of $55m. is expected to make a 25% yield on the investment. Under the terms of the agreement, Mercantile Provident funds will sell 5% of their Hamashbir shares at a minimal value of NIS 300m. In 2006, the retail chain, which was purchased by Rami Shavit four years ago, reported a pre-tax profit of NIS 24.9m compared with NIS 2.5m in 2005. Sales in 2006 rose by 17% from NIS 776m in 2005 to NIS 907m.

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection


Cookie Settings