TEL AVIV, Israel, May 18, 2021 /PRNewswire/ -- On May 13, 2021, Leumi Partners Ltd., a wholly-owned subsidiary of Bank Leumi (TASE: LUMI), exercised an option allocated to it upon its investment in Retailors Ltd.
The shares allocated upon the exercise of the option will be sold pursuant to an IPO prospectus and an offer for sale published by Retailors on May 13, 2021. The completion of the IPO and offer for sale under the prospectus was scheduled for May 18, 2021.
The pre-tax profit expected to be recorded by Bank Leumi as a result of the exercise of the share option is NIS 90 million.
Following the completion of the IPO and offer for sale under the prospectus, Leumi Partners shall hold 6.81% of Retailors' shares. The shares are restricted for a period of up to 18 months following the listing of Retailors' shares.
SOURCE Bank Leumi