Israeli retailer Shufersal raises $211 million in share offering

A man pushes a shopping cart outside Shufersal, Israel's largest supermarket chain, in the West Bank Jewish settlement of Mishor Adumim near Jerusalem May 5, 2013. REUTERS/Ammar Awad/File Photo

JERUSALEM (Reuters) - Shufersal, Israel’s largest supermarket chain, said on Sunday it raised 702 million shekels ($211 million) in a share offering that included foreign investors for the first time.

Shufersal said demand in the offering, which took place late last week, reached 1.5 billion shekels, with all Israeli institutions participating.

Shares were sold at 26 shekels each, a discount of 3.3% to Shufersal’s closing price on Thursday in Tel Aviv.

Shufersal last week reported a 2.6% rise in quarterly profit, boosted by a 15.9% jump in revenue from higher online sales mainly due to the coronavirus pandemic that kept many shoppers home.

($1 = 3.3284 shekels)

Reporting by Steven Scheer; Editing by Ari Rabinovitch