Rani Zim Shopping Centers’ Management Rang The Bell To Open Trading On TASE To Mark The IPO Of The Company’s Shares

This morning (April 11, 2018), Rani Zim Shopping Centers’ management opened the trading on the Tel-Aviv Stock Exchange (TASE) to mark the company’s listing.

The company is engaged in promoting, developing, constructing and managing commercial projects in Israel, primarily shopping centers located in the periphery – Beit Shean, Arad, Maalot and Netivot. The company has investment properties and properties under construction. The company’s market value stands at NIS 246 million and it joins the real estate sector that comprises 97 shares of companies in the sector with an overall value of NIS 114 billion, constituting 17% of the total value of TASE’s equities market.

Rani Zim, the controlling shareholder of the Zim Centers Group: “this festive occasion fills me with excitement, even though I’m already familiar with TASE from my former engagement with “Kimat Hinam” company, which – I’m pleased to say – was sold at a substantial profit and yielded a very satisfactory return for its loyal investors. I am convinced that TASE also constitutes a significant component in growing and improving the value of the Zim Shopping Centers, and that such value will be realized for our investors in the coming years. Today, I am standing at TASE as a representative of businesses in the periphery and it is our intention to continue developing these regions and to provide their citizens with centers that will enhance their shopping experience. In addition, we view the development of shopping centers in the Arab sector as having considerable business potential and are proud to be the flagbearers in developing and upscaling the retail world for this sector. Next week we will celebrate 70 years of independence for Israel; it is a fitting occasion to say that we at Zim Centers view what we are doing as, in some way, a realization of a vision: assisting the state of Israel in developing economic activity in the peripheral regions – the Arab sector alongside the Jewish sector – symbolizes the ingathering of the exiles and the unity of the nation”.

Drorit Vilnai, Head of Listings Unit at TASE: “Rani Zim Shopping Centers is the first real estate company to list on TASE since the beginning of 2018. Four other companies have joined TASE since the beginning of the year, bringing the total to five for the first quarter – and there are more companies that will make an IPO on TASE this year. The shares are expected to join the indices of TA-Growth Index, the TA-All Share Index and the TA-Real Estate Index from June 10. This is not Rani Zim’s first experience as the owner of TASE listed company and we extend to the company our best wishes for continued growth and expansion and hope that the company will remain with us on TASE for many years to come, allowing the Israeli public to enjoy the fruits of the company’s success over the long-term”.

Pictured: Rani Zim Shopping Centers’ Management-Rani Zim, CEO and Chairman of the Board of Directors and his wife; Lilach Zim; Ezra Zim; Yoav Kaplan, Deputy CEO and VP Business Development; Oded Dolinsky, CFO; Shai Tal, Chain Stores Manager; Reut Forman, Controller; Roi Kalev; Drorit Vilnai, Listings Unit Manager at TASE; Amnon Neubach, Chairman of TASE’s Board of Directors and Ittai Ben-Zeev, TASE’s CEO

Photo credit: Guy Assayag for no financial consideration.

Rani Zim Shopping Centers’ Management Rang the Bell to Open Trading on TASE to Mark the IPO of the Company’s Shares