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CAESAREA, Israel – Max Inventory Restricted (TASE: MAXO), an excessive worth retailer primarily based in Israel, disclosed on Monday that Migdal Insurance coverage and Monetary Holdings Ltd. has elevated its stake within the firm. On January 11, 2024, Migdal executed a transaction on the Tel Aviv Inventory Change, buying 3,559,039 shares at a mean worth of ILS 7.08 per share.

Following this transaction, Migdal’s whole holdings in Max Inventory quantity to eight,964,273 shares, representing 6.43% of the corporate’s share capital, or 6.37% on a completely diluted foundation. This buy positions Migdal as a major shareholder, with its holdings being managed by profit-sharing life insurance coverage insurance policies and mutual fund administration corporations.

Migdal Insurance coverage and Monetary Holdings Ltd., a public entity, is notably underneath the final word oblique management of Mr. Shlomo and Ms. Haya Eliyahu, who maintain a 64.28% stake. The corporate now holds greater than 5% of Max Inventory’s share capital, primarily by life insurance coverage insurance policies and mutual funds it manages.

Max Inventory is acknowledged as Israel’s main excessive worth retailer, with a presence in 63 places throughout Israel and two in Portugal. The corporate is understood for providing a various vary of high quality merchandise at inexpensive costs, aligning with their motto “Dream Massive, Pay Small.”

This announcement is an English translation of excerpts from a Hebrew speedy report printed on the identical day. Whereas the interpretation has been ready with care, it’s acknowledged that no translation can completely replicate the unique Hebrew model. In case of any discrepancies, the Hebrew model prevails. This data is predicated on a press launch assertion.

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