Discount Capital Sells Melaran Stake at 6 Million NIS Loss
Discount Capital is selling its stake in non-bank lender Melaran to controlling shareholder Moand Rian for 27 million NIS, taking a 6 million NIS loss.
Discount Capital, the investment arm of Discount Bank, is selling most of its stake in Melaran, recording a loss of 6 million NIS after five years. Discount Capital will sell an 8% stake, representing 13% of the company's shares, to controlling shareholder Moand Rian for 27 million NIS.
Following the transaction, Rian's stake will rise to 57.4%. In total, Rian is purchasing 2.5 million shares at a price of 11.3 NIS per share. Once the deal is completed, Discount Capital's holding will drop below 5%, and it will cease to be a party at interest in the company. Melaran operates in the non-bank credit sector.
Discount Capital originally invested in Melaran in August 2021, committing approximately 47 million NIS for a 13% stake at a price of 13.5 NIS per share, which reflected a 12% premium over the market price at the time. Concurrently, Chairman of the Board David Granot announced that he will step down this coming November, with Rian expected to step into his shoes and lead the company directly.
