British investment group Consensus Business Group (CBG), headed by Vincent Tchenguiz, has invested NIS 3.25 million for 12.4% of the shares of the Smart Agro R&D Partnership (TASE: SMAG), as part as a NIS 14.4 million private placement completed last week. The shares are registered under the name of Centaurus, a subsidiary of CBG, which specializes in investments in the food, agricultural, medical, life sciences, and climate change technologies sectors.
As part of the investment, Vincent Tchenguiz's CBG received 680,000 shares as well as series 1 and series 2 warrants, which together with the shares could rise to a 31% maximum stake in the Partnership.
CBGT is a British investment group with an international investment portfolio in various fields such as pharmaceuticals, biotechnology, med-tech, cleantech, real estate, and more. CBG has an investment portfolio in Israel with assets worth about NIS 2 billion. In Israel, the Group has invested in areas like life sciences, cyber security and technologies coping with the challenges of climate change, reducing carbon emissions, and more.
Institutional and private investors and general Partnership shareholders took part in the offering, which was led by Cybele Capital Markets. In total, 15,045 bundles were allocated to the public including 3,009,000 Partnership units, 3,009,000 warrants (Series 1) and 1,504,500 warrant options (Series 2). The price of the bundle was set at NIS 960. The offering was supported by Adv. Itay Brafman of the Zeev Holender law firm.
Smart Agro held its Initial Public Offering (IPO) on the Tel Aviv Stock Exchange (TASE) in October 2020 and raised NIS 26 million. The Partnership, managed by CEO Dganit Vered, plans focusing on agri-tech companies with significant research and development in solving global problems in the field of agriculture, and in helping the world's population to cope with the destructive investments affecting climate change.
Published by Globes, Israel business news - en.globes.co.il - on September 1, 2021
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