Max Stock Limited Announces Sale of Shares by Ibex Fund
Max Stock Limited Announces Sale of Shares by Ibex Fund
Max Stock Limited (TASE: MAXO) has recently made an announcement regarding a significant change in their share distribution. Ibex Israel Fund LLLP has informed the company of their decision to sell a total of 7,315,547 shares, which accounts for roughly 5.2% of the company's share capital. The shares were sold at a price of NIS 19.00 each, leading to Ibex no longer holding any shares in Max Stock.
Understanding the Share Sale
The transaction has resulted in Ibex exiting its role as an interested party in Max Stock. This change is part of a broader strategy as the company continues to evolve in the competitive retail landscape.
Details of the Reporting Entities
Max Stock has clarified that Ibex serves as the reporting entity not just for itself but also for Ibex Israel Public-Only LP, which holds an interest in the company's shares. Both entities are structured as limited partnerships chartered in the State of Delaware, USA.
Control and Ownership
These funds are indirectly managed by their general partners, Ibex GP LLC and Ibex Investors LLC. The ultimate control rests with Mr. Justin Borus, who resides in the USA. This move is noteworthy as Ibex’s exit could signal changes in the management dynamics of the company.
About Max Stock
Max Stock stands as Israel's premier extreme value retailer, currently laying claim to 64 locations across the nation. The company takes pride in providing a wide range of quality products at affordable prices, embodying its motto of "Dream Big, Pay Small." This philosophy drives the company to deliver outstanding value to its customers, making it a staple in the Israeli retail market.
As it looks towards the future, Max Stock is committed to maintaining and expanding its offerings to meet the everyday needs of its clientele. The company is focused on enhancing customer experience and ensuring that value remains the core of its business strategy.
Company Contact Information
For any inquiries regarding corporate development and investor relations, individuals can reach out to Talia Sessler, Chief Corporate Development and IR Officer. Further communication can be addressed through the provided channels.
Frequently Asked Questions
What recent changes have occurred with Max Stock's shares?
Max Stock Limited announced that Ibex Israel Fund has sold its shares, resulting in the fund no longer being an interested party.
What percentage of shares did Ibex sell?
Ibex sold approximately 5.2% of Max Stock's share capital.
What was the selling price of the shares?
The shares were sold at a price of NIS 19.00 each.
Who manages Ibex Israel Fund?
Ibex is managed by its general partners, Ibex GP LLC and Ibex Investors LLC, ultimately controlled by Mr. Justin Borus.
Where is Max Stock located?
Max Stock operates 64 locations throughout Israel, focusing on providing value retail options to its customers.
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