Connect with us

Hi, what are you looking for?

Jewish Business News


Zadik Bino has sold NIS 600 million worth of Paz and First International Bank shares within six months

724543[6 Zadik Bino/ Tamar Mazafi

/ By Aviv Levy /

Zadik Bino is continuing to exploit high prices to sell shares. Today, he and his partners in Paz Oil Company Ltd. (TASE:PZOL), the Liberman and Abeles families of Australia, sold 3% of the company for NIS 140 million. The sales were made at around today’s opening price of NIS 565.

The sale follows Bino’s sale of 3.6% of Paz for NSI 200 million in March. The share price has risen 30% in the past year, giving a current market cap of NIS 5.7 billion. Following today’s sale, Bino and his partners’ stake in Paz fell to 52%, worth NIS 3 billion. Bino holds most of the stake (40%) through Bino Holdings Ltd.

In between the two sales of Paz shares, in April Bino also sold 5.2% of First International Bank of Israel (TASE: FTIN) for NIS 268 million. He has sold shares for NIS 600 million within six months.

In the first quarter of 2013, Paz was affected by low oil refining margins and only partial deliveries of natural gas from the emptying Yam Tethys field. Paz’s accounting profit fell 32% to NIS 15 million.

Published by

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

cialis cialis satış