JERUSALEM, Dec 14 (Reuters) - Israeli investment house Halman-Aldubi said on Wednesday it signed a deal to carry out a reverse merger and become a public company on the Tel Aviv Stock Exchange.
Halman-Aldubi, which manages about t 14 billion shekels ($3.7 billion) in assets, will merge with a small firm called Soho Real Estate and will be traded under the name Halman-Aldubi Investment House.
The investment house’s chief executive told Reuters in September they were planning to make the transaction by the end of the year.
Halman-Aldubi’s shareholders will retain a 71 percent stake in the new company and the remaining 29 percent will be held by the public, according to a statement.
Soho Real Estate has a market value of 39.5 million shekels. The deal is subject to regulatory approval.
$1 = 3.8008 shekels Reporting by Ari Rabinovitch