Meitav becomes substantial shareholder in Shikun & Binui after acquiring shares for approx. ₪15 million

Meitav Investment House has crossed the 5% holding threshold in the infrastructure and construction giant, becoming a substantial shareholder. The purchase, totaling approximately ₪15.16 million, demonstrates the institutional investor's increased involvement in the company.

Meitav Investment House has become a substantial shareholder in Shikun & Binui after purchasing shares for approximately ₪15.16 million, increasing its holdings to 5.12% of the share capital. The holding is primarily executed through Meitav's provident funds and mutual funds, with the investment house also holding securities in the subsidiary, Shikun & Binui Energy.

Meitav Investment House has become a substantial shareholder in infrastructure and construction company Shikun & Binui, according to a filing submitted by the company to the TASE. The move comes after Meitav purchased company shares on the exchange on September 28, 2026, increasing its holdings above the 5% threshold, which mandates reporting a status change to "substantial shareholder".

According to the filing [2026-01-089253], Meitav purchased 850,999 ordinary shares of Shikun & Binui at an average price of 1,781.29 agorot (approx. ₪17.81) per share. The total transaction value amounts to approximately ₪15.16 million. Following the acquisition, Meitav's total holdings in Shikun & Binui shares rose to 29,831,914 shares, representing 5.12% of the company's share capital and voting rights [2026-01-089253]. On a fully diluted basis, the holding rate stands at 5.09%.

A breakdown of Meitav's holdings reveals that the majority of the shares are held through the investment house's long-term investment arms. Provident funds and their management companies hold 19,682,411 shares, constituting about two-thirds of the total holding. The remaining shares, 10,175,958, are held by Meitav's mutual funds [2026-01-089253]. The filing also notes that Meitav's market-maker arm holds a short position of 26,455 shares, which is neutralized from the grand total and presented in tables as a zero holding [2026-01-089253].

Meitav's involvement in the Shikun & Binui Group is not limited to the parent company's shares. The filing details that the investment house also holds four series of Shikun & Binui bonds (Series 8, 9, 10, and 11) [2026-01-089253].

In addition, Meitav has significant exposure to the material subsidiary, Shikun & Binui Energy. Meitav holds 16,812,840 ordinary shares of the energy company, representing 1.72% of its capital. It also holds 3,329,037 share options (10.63% of total options in the series) and bonds of the subsidiary (Series A and B), with holdings of 4.36% and 14.96% of the series, respectively [2026-01-089253]. This comprehensive set of holdings, across both the parent company and the subsidiary, and in a variety of financial instruments (shares, options, and bonds), points to a broad and extensive position by the investment house in the group.

The transition of an institutional entity of Meitav's scale into a substantial shareholder constitutes a material event for Shikun & Binui, signaling growing interest from one of the major players in the Israeli capital market. The controlling shareholders of Meitav, as noted in the filing, are Avner Stepak, Eli Barkat (via Barm Finances), Nir Barkat (via a trust through his brother Eli), and Yuval Rakavy [2026-01-089253].