Electra Real Estate

Elco plans to invest at least 95 million shekels in Electra Real Estate's upcoming rights offering to restore investor confidence amid falling share values.

Electra Real Estate is taking 20 analysts to Florida to reassure investors after its stock plummeted 75% in four months to a 1.06 billion shekel valuation amid rising US yields.

Electra Real Estate shares plummeted, losing 75% of value in four months to 1.06 billion NIS. Institutional investors like Menora face heavy paper losses amid rising US bond yields and modest fund returns.

Electra Real Estate shares dropped 15% amid heavy trading volume as the company faces a potential exit from the Tel Aviv 90 index and ongoing financial pressures.

The company is divesting its residential complex in Texas after more than seven years of ownership. The outlook for investors is disappointing: the annual yield is minimal, and the accounting loss will be recorded in the third-quarter reports.

"After 2008, we sold assets at any price to avoid a debt settlement. I went on a crazy realization journey. I sat in front of senior officials at Deutsche Bank, to whom we owed millions, to extract a few shekels," recalls Gil Roshinek, Chairman of Electra Real Estate.

Following reports at the end of the week, the controlling shareholder continues to increase its stake, purchasing another 190,000 shares for 7 million shekels. Total investment since the end of the week has reached 15 million shekels.