Zadik Bino sells FIBI shares to tune of NIS 359m

Zadik Bino

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

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