Shikun & Binui

Shikun & Binui Chairman Nati Saidoff has sold 4% of the company's shares to institutional investors for 450 million shekels. Following the discounted sale, the stock price fell by 4.1%.

The rating agency Maalot has upgraded the bond rating of Shikun & Binui to A+. This decision comes ahead of a 350 million shekel bond series expansion as part of the company's debt reduction strategy.

The sale of Shikun & Binui Energy to the Generation fund for 4.45 billion shekels has driven a 45% jump in net profit and led to an upgrade of the company's bond rating to A+.

Investment fund Generation Capital concluded the second quarter of 2026 with a pre-tax profit of 826 million shekels. Cumulative profit for the first half of the year reached 1.05 billion shekels.

A decrease in apartment deliveries in Europe and the weakening of the dollar led to a decline in Shikun & Binui's revenues to 2.3 billion shekels in the second quarter and a plunge in operating profit. Despite this, net profit jumped by 70% to 241 million shekels thanks to a significant tax benefit, and the contracting backlog reached a record 18.5 billion shekels.

The energy company seeks to grant a bonus of nearly 7 million shekels to its senior managers to ensure they remain until the merger with PowerGen is completed. Additionally, the vesting date for their options will be advanced, allowing them to exercise them as part of the deal.

Construction giant Shikun & Binui is acquiring control of the elevator company Naaman. The deal, valued at several tens of millions of shekels, will allow the company to reduce its reliance on external suppliers.

Shikun & Binui has established tiered penalties for withdrawing from the sale of Shikun Energy to the Generation fund. The compensation reaches 300 million shekels if the company accepts a competing offer from a major industry player.

The 4.45 billion shekel acquisition of Shikun & Binui Energy by PowerGen has triggered regulatory scrutiny over market concentration. As electricity demand surges, the industry faces pressure to restructure ownership.