Gazit-Globe Closes Common Stock Offering Raising $155 Mln

(RTTNews) - Gazit-Globe (GZT), a multi-national real estate company, Thursday announced the closing of its public offering of 17.0 million shares in Israel on the Tel Aviv Stock Exchange at a price of NIS 35.5 per share or about $9.1 per share. The gross proceeds to the company were NIS 604 million or about $155 million.

Gazit-Globe's controlling shareholder Norstar Holdings Inc., which has a 50.2 percent stake, purchased 8.5 million shares for a total consideration of $77 million.

The company intends to use the proceeds from the offering to refinance existing debt and for general corporate purposes.

The underwriters syndicate was led by Leader Capital Markets and Clal Finance Underwriting. It included Barak Capital Underwriting, Leumi Partners, Poalim IBI, Excellence Underwriting, Inbar Underwriting, Value Base and Epsilon Underwriting.