Menora

Electra Real Estate is taking 20 analysts to Florida to reassure investors after its stock plummeted 75% in four months to a 1.06 billion shekel valuation amid rising US yields.

Electra Real Estate shares plummeted, losing 75% of value in four months to 1.06 billion NIS. Institutional investors like Menora face heavy paper losses amid rising US bond yields and modest fund returns.

Tal Kedem and Udi Biton are set to sell a 25%–30% stake in their hedge fund, Agility, to the insurance company Menora. The deal values the fund at approximately 300 million shekels, resulting in a payout of 75–100 million shekels.

After Migdal and Clal presented a return on equity of over 22% and record core profits last week, the last three insurance companies complete the picture this week. And on the other side of the stock exchange, residential developers continue to plummet - and this is exactly the contrast that is important to know.

The insurance and finance company is buying back 5% of its pension and provident fund operations from the Allied Group for 249 million shekels, reflecting a valuation of about 5 billion shekels for the activity. Four years ago, Yitzhak Suary's Allied acquired the stake for 129 million shekels, and it will continue to hold 5% of the activity.