Business Services Industry
Akirov Buys Shares From Soros.(Brief Article)
Israel Business Today, July, 1999
El-Rov Real Estate company is controlled by Alfred Akirov. He lately made his second large purchase of the company's shares from Quantum Funds, controlled by George Soros. This time he purchased $800,000 shares of El-Roy for NIS 18.4 million (NIS 23 per share) his last purchase also of 800,000 cost him NIS 23.50 per share.
Akirov now holds 77 percent of the shares of El-Roy and the Quantum Fund 13 percent. There are rumors that Quantum will soon be selling its remaining shares in El-Roy as well. The reason most observers believe that Quantum is selling its stake in El-Roy is because of the low liquidity of the free float of the shares, which prevents the share price from rising. Akirov has repeatedly refused to sell part of his holdings in the company in a...
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