Globrand’s Management Opened Trading To Mark The Listing Of The Company’s Shares On TASE

​This morning, June 19, 2018, Globrand’s management opened the trading to mark the listing of the company’s shares on the Tel-Aviv Stock Exchange (TASE).

Globrand’s is one of the largest import and distribution companies in Israel and is a leader in its fields of smoking products (in which it has been engaged since 2001) and candies and snacks (in which it is been engaged since 2013). In 2017, the company had a sales turnover of NIS 2.2 billion.

The company has a dividend distribution policy of 75% of profits and is due to distribute a dividend of NIS 37 million next month. The company’s shares are expected to join the TA-SME 150 Index.

The company has closed a sale offer in which it has raised equity of NIS 240 million from institutional investors and the public, at a company value of NIS 682 million. The company joins 66 other companies in the commerce and services sector, whose market cap amounts to some NIS 56 billion – representing approximately 8% of the equities market on TASE.