Israeli Bourse Secures 5 Percent Stake from Hedge Fund Billionaire Bill Ackman
In a show of confidence in the Israeli economy, investor Bill Ackman and his wife have bought a 5 percent stake in the Tel Aviv stock exchange.
Hedge fund billionaire Bill Ackman and his wife Neri Oxman have bought a significant stake in the Tel Aviv Stock Exchange (TASE), with the investment representing a vote of confidence in the Israeli economy as the country continues its grinding war against the Hamas terror group.
The Israeli bourse said on Wednesday that Mr. Ackman and his wife would be buying a 4.9 percent equity stake in TASE, as part of the exchange’s secondary offering of roughly 17 million ordinary shares, priced at roughly $5.50 per share.
TASE will receive roughly $65 million in net proceeds from the offering, which it said it plans to invest in its technology infrastructure.
The bourse said the offering drew “robust interest” from investors in Israel, the United States, Europe, and Australia, “reflecting a strong vote of confidence in both the Tel Aviv Stock Exchange and the Israeli economy at large.”
“Among the prominent buyers were Neri Oxman and Bill Ackman who have agreed to purchase approximately a 4.9% equity stake in the TASE,” it added.
The couple have yet to publicly comment on their purchase.
Ackman Activism
Mr. Ackman, who runs Pershing Square Capital, has been a vocal supporter of Israel in its military campaign in Gaza after the Oct. 7 attacks by Hamas. He has also been a critic of the way Harvard President Claudine Gay handled growing anti-Semitic incidents on campus. On Oct. 8, Harvard co-signed a controversial letter that accused the Israeli government of being responsible for “all unfolding violence.”
Mr. Ackman reacted to the letter by calling for the release of a list of members of each of the organizations that supported the letter.
He has also criticized Harvard’s diversity policies and is backing a bid by four dissident alumni to join its board of overseers. He has publicly called members of the Harvard Corporation to step down, and he has made posts on various platforms explaining his views on the issues.
Aaron Pan and Naveen Athrapully contributed to this report.
