Billionaire hedge fund manager Bill Ackman and his Israeli-born wife Neri Oxman are buying a nearly 5% stake in the Tel Aviv Stock Exchange (TASE), the exchange reported Wednesday.
The pair have agreed to buy approximately a 4.9% equity stake in the TASE.
The purchase was part of the TASE's secondary offering of 18.5% of its shares, in which it sold 17.2 million shares at 20.60 shekels per share for 353.4 million shekels ($95 million). $1 = 3.7322 shekels.
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The TASE said net proceeds amounted to 242 million shekels after deducting placing commissions and other offering expenses with the offering expected to close on Jan. 25.
TASE said it intends to use the net proceeds from this offering for investment in its technology infrastructure. TASE was established in Israel in September 1953.
"The transaction drew robust interest from investors across 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.
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The press release did not name any other investors apart from Ackman and his wife.
Ackman is the CEO and founder of New York-based Pershing Square Capital Management and has been a vocal supporter of Israel since the Oct. 7 Hamas terror attack that resulted in Israel launching a war on the group in Gaza.
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Ackman, a Harvard alum, has also been heavily critical of former Harvard president Claudine Gay after her response to antisemitism questioning before Congress and accusations of plagiarism. Ackman’s criticism, among other voices, eventually led to her resignation.
He is pressing forward with his efforts to reshape the Ivy League school's governance by backing a bid by four dissident alumni to join its board of overseers.
On Tuesday, Ackman took to X to call on New Hampshire to vote for Rep. Dean Phillips, D-Minn., as an alternative option against President Joe Biden in this year’s Democratic primary campaign.
Reuters contributed to this report.
