Yelin Lapidot Acquires Stake in Dyoniss Alad for 7.8 Million NIS

Investment house Yelin Lapidot has joined Menora Mivtahim, Phoenix, Harel Insurance and Finance, Migdal Group, and Gideon Tadmor after acquiring an additional 392,267 shares of Dyoniss Alad on the stock exchange, according to an evening filing.

Yelin Lapidot became a substantial shareholder after increasing its holdings for approximately 7.8 million NIS, joining leading institutional entities. Dyoniss Alad stated that the entry of another major institutional body reflects continued trust in its operations, financial robustness, and substantial growth potential for the coming years.

Simultaneously, the company continues to advance dozens of residential projects in high-demand areas across the country, relying on significant land reserves and extensive entrepreneurial and execution capabilities.

Earlier in August, merger and share-exchange talks between Ronen Yaffa's company and Dan Real Estate reached their final stretch. Dyoniss Alad is set to acquire Dan Real Estate in exchange for share allocations to its shareholders.

The goal is to form a company valued at 4 billion NIS following Dan Real Estate's separation from the transportation firm. Dyoniss currently trades at a market capitalization of 1.769 billion NIS, with shares priced at 197.3 NIS, down over 19% this month and more than 27% since the beginning of the year.