WASHINGTON (dpa-AFX) - Hedge fund billionaire Bill Ackman and his American-Israeli wife Neri Oxman have acquired a 4.9 percent stake in the Tel Aviv Stock Exchange, reflecting a stronger confidence in Israel's economy, the bourse stated in a press release on Wednesday.
The Israeli Stock Exchange priced the secondary offering of 17.2 million shares, or 18.5% of its market value, at 20.60 shekels per share or $5.50, raising about $95 million.
The bourse further stated that the billionaire and his wife's transaction had drawn a robust interest from investors across Israel, the United States, Europe, and Australia.
The Tel Aviv Stock Exchange said that the net proceeds from the offering will be utilized for investment in its technology infrastructure.
Ackman, founder and CEO of New York-based Pershing Square Capital Management said to Reuters that, 'Owning an exchange in a country with tremendous long-term growth potential is one of the best investments you can make.' He added, 'Investing in the TASE of a 'Startup Nation' is precisely that. It represents our support for Israel, and our confidence in its economy and long-term future.'
Ackman had always been a strong supporter of Israel and had landed in a controversy when he blamed the then-president of Harvard, Claudine Gay for failing to control rising antisemitism on the campus, as over 30 students of the University signed a statement blaming Israel for the death of people in the war.
Ackman had also asked the university to disclose the name of the students so that the Wall Street companies could refrain from hiring them.
Last year, he explained his stance on X, formerly known as Twitter, by posting that, 'I am pro-Palestinian. Some might be surprised by this due to my recent advocacy on @X for Israel, but you shouldn't be. I am anti-terrorist, not anti-Palestinian. It is not inconsistent to be pro-Israel and pro-Palestinian.'
He further added that he had invested millions in Palestine for its economic development and peaceful co-existence.
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