The successful raising of bonds by Tnuport at the beginning of October and a revaluation of assets enabled the company's board of directors to lead a move to distribute NIS 150 million as a cash dividend to the controlling owners of the company.
The controlling owners (100%) are Kidan Dahari and Yaron Adiv. As part of issuing bonds, the company raised NIS 640 million with a yield of 3.4%. The total return for the offering amounted to NIS 1 billion.
After distributing the dividend and converting bonds, Tnuport retained NIS 70 million, which is intended for investments. The board announced that based on the data, the dividend's distribution does not impact negatively on the company's financial and business situation.
Dahari and Adiv are expected to use the dividend money to pay off debts to the banking system.
Tnuport assets
Tnuport owns real estate assets, recently valued at NIS 1 billion, in the field of commerce and malls, office buildings, packing houses, logistic parks, and gas stations. The annual rent turnover of its 17 real estate complexes is estimated at NIS 75 million.
Dahari and Adiv also own 100% of Yishpro, which manages malls that generate an annual revenue cycle from the rent of NIS 110 million and whose assets are valued at NIS 1.7 billion.