Shufersal's management took part in the Opening Bell Ceremony last Thursday (August 24), marking its joining to the TASE's Flagship Index, the TA-35.
Shufersal, the leading and largest retailer in Israel, has opened its first supermarket in Ben-Yehuda Street, Tel Aviv, in 1958. Today, the retail chain includes 275 branches. Its average daily turnover since the beginning of 2017 has reached approx. NIS 9 million, and it has the 24th most tradable share on TASE.
Eduardo Elsztain, IDB's (Shufersal's parent company) controlling shareholder:
"This is a great day for Shufersal. The company's entry into the TA-35 index was achieved thanks to the hard work of the committed management team and employees. I congratulate the management on its courageous and forward-looking steps, such as the establishment of the logistic center, the successful private label activity and the online platform that brought an innovated offer to our customers, which has already reached 12% of the company's sales - the highest percentage of online food sales in the world".
Elsztain noted that two weeks ago he met with the founder of Shufersal, Ben-Zion Ben-Haim, who shared his experiences in setting up the chain in the early years of the country and was very moved by this encounter.
Shufersal CEO, Itsik Abercohen: "We are proud of the entry of Shufersal into the TA-35 index. Our joining as a retail company to the index where banks, hi-tech and communications companies are traded, is not an obvious step and we appreciate the occasion. As an Israeli symbol, Shufersal is a combination of tradition and innovation - personal service to customers in stores along with progress and technology. In order to continue to lead, we constantly adapt ourselves to changes in Israel and abroad. We have other amazing plans that will propel us to new heights, and today is a milestone in our journey".
Robby Goldenberg, SVP, Head of Trading, Derivatives & Indices Department at TASE: "In 2015, we opened trading with Shufersal, on the occasion of its 35th year of trading on TASE and today, we celebrate its joining the TA-35 Index. Since the launch of the reform in February this year, Shufersal worked to increase its market value, paving the way to joining the TA-35 Index. In terms of market value, the Shufersal stock ranks 32 in the TA-35 Index. Following the reform, more companies made efforts to join TASE's indices. Over 260 companies increased their free float rate by around NIS 26 billion. This included sell-offs of shares by interested parties for approx. NIS 9 billion. By joining the TA-35 Index, Shufersal will increase its exposure to the general public, and will allow investors to be part of its success."
Pictured:
Shufersal's management and TASE’s management.
Photographer: Guy Assayag (photo free-of-charge).
