Ellomay Capital announces NIS 50M private offering

* Ellomay Capital (NYSE:ELLO [https://seekingalpha.com/symbol/ELLO]) has received commitments from several Israeli institutional and classified investors to buy 926,000 ordinary shares of the company in a private placement [https://seekingalpha.com/pr/20164019-ellomay-capital-ltd-announces-a-proposed-private-placement-of-ordinary-shares-to-israeli].
* The price per share in the private placement was set at NIS 54 (~$16.3) and the gross proceeds to the company are expected to be around NIS 50 million.
* Following the private placement, a Menora Mivtachim affiliate is expected to become an interested party, acquiring about 6% of the company’s shares.
* Ellomay (NYSE:ELLO [https://seekingalpha.com/symbol/ELLO]) plans to use the net proceeds from this offering for general corporate purposes.

MORE ON ELLOMAY

* Financial information for Ellomay [https://seekingalpha.com/symbol/ELLO/income-statement]