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Gazit-Globe raises stake in Citycon

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Capital Markets View – January 2021


Gazit-Globe raises stake in Citycon

In a latest earnings release, Gazit-Globe Ltd. said it acquired approximately 8.3 million Citycon Oyj shares for roughly €16 million in February, raising its stake to approximately 45.5% of the Finnish developer's outstanding shares.

The increase represents around 0.9% of Citycon's outstanding share capital.

The Israeli real estate company also noted it will distribute a quarterly cash dividend of 38 Israeli agorot per share on April 24 to shareholders on record as of April 12.

As of March 28, US$1 was equivalent to 3.50 Israeli shekels.