Through FIBI Holdings, Bino controls First International Bank of Israel.
Zadik Bino sold shares in FIBI Holdings Ltd. (TASE: FIBI), through which he controls First International Bank of Israel (TASE: FTIN), to the tune of NIS 350 million today, "Globes" has learned. The sale was of slightly less than 10% of the company.
The distribution was carried out by Leader Capital Markets at a discount of about 2.5% on the closing price of the shares today.
Zadik Bino previously gave up control of Paz Oil Company Ltd. (TASE:PZOL) in order to continue controlling First International Bank under the provisions of the Law for Promotion of Competition and Reduction of Concentration, which forbid the controlling shareholder of a non-financial company from also being a major shareholder in a financial company.
Earlier today, FIBI Holdings declared a dividend of NIS 48 million to investors holding its shares on December 9.
Published by Globes, Israel business news - en.globes.co.il - on November 29, 2018
© Copyright of Globes Publisher Itonut (1983) Ltd. 2018
Zadik Bino
Globes correspondent and Aviv Levy