Frenkel ups Alony Hetz stake to grow to be greatest shareholder

Nathan Hetz, CEO of income-producing property and renewable vitality firm Alony Hetz (TASE: ALHE) is not the largest shareholder within the firm. On Thursday Israeli businessman Aaron Frenkel purchased shares within the firm for NIS 60 million, giving him a 13% stake, and leapfrogging Hetz who owns a 12.5% stake.

Frenkel, who purchased a ten% stake in Alony Hetz final October for NIS 800 million, purchased a further 1.9 million shares final week at NIS 31.9 per share for a complete funding of NIS 60 million. The shares Frenkel purchased in October are at the moment value NIS 832 million and his total stake is value NIS 892 million, whereas Hetz owns shares value NIS 860 million.

Frenkel has instructed “Globes” a number of occasions that he has no plans to achieve management of Alony Hetz and has complimented the best way Hetz manages the corporate. He provides, “In fact we come so as to add and innovate and convey completely different concepts, we typically additionally provide concepts outdoors the field, for instance, methods to promote inexperienced vitality points in Israel and all over the world. There are a lot of issues that I feel will be improved, and we’ll enhance them collectively. Nathan is managing it and I’m all the time comfortable to listen to about how issues are shifting ahead.”

Hetz himself instructed “Globes” in October that Frenkel was welcome on the firm.

Revealed by Globes, Israel enterprise information – en.globes.co.il – on February 4, 2025.

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