You and I struggle to buy some shares of a company in the stock market. Imagine how much wealth a person would have if he could buy 5% of the entire stock market of a country. This is going to happen in Israel.
A unique miracle is going to happen in Israel. Generally people show interest in buying some shares of a company in the stock market. But a billionaire fund manager and his wife are going to buy 4.9 percent stake in Israel's largest stock exchange. This deal will be worth several crores of dollars.
Israel's Tel Aviv Stock Exchange (TASE) has informed that billionaire fund manager Bill Ackman and his wife Neri Oxman have agreed to buy a 4.9 percent stake in the stock exchange.
The deal is worth so many crores
The company running Tel Aviv Stock Exchange has come up with an offer to sell 18.5% of its shares. In this the company will sell its 1.72 crore shares. The price of one share is 20.60 shekels (Israeli currency). If converted into Indian currency, the price of each share on the stock exchange will be Rs 460.70. In this way, Tel Aviv Stock Exchange will gain a total of 35.34 crore shekels (about Rs 790.34 crore) from this deal.
Will improve our technology
Israel is currently fighting a war with Hamas. Meanwhile, the Tel Aviv Stock Exchange is focusing on strengthening its security. A major part of the amount it will receive from this share sale will be spent on setting up the technology infrastructure of the stock exchange.
Not only Israel, many businessmen and billionaires from America, Europe and Australia have shown interest in this deal. Tomorrow is the last date for placing bids for this. However, only the names of Bill Ackman and Neri Oxman have been disclosed by the Tel Aviv Stock Exchange. Both of them have not commented regarding this deal.
According to Reuters, Bill Ackman runs a company named Pershing Square Capital. He has supported Israel to go to war with Hamas.
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