Max Stock Limited (TASE: MAXO) (the “Company”) today announced that based on information received from its shareholders, Israeli institutional investors including Phoenix Insurance, one of the leading insurance companies in Israel, acquired a stake of approximately 11% in Max Stock. The ultimate seller of almost all the shares was an Australian company owned by Riki Neumann, whose shares were held in trust by Oria and Iris Ltd., a company owned by Evan Charles Neumann. Riki Neumann was a passive investor in Max Stock and after this sale no longer owns any shares in Max Stock.
Evan Neumann continues to hold approximately 5% of the shares in Max Stock and serve as a Co-CEO and director of the Company.
About Max Stock
Max Stock is a leading general discount retailer of everyday essential items in Israel. We offer a broad selection of merchandise across six major categories, operating 52 stores across the country. For more information, please visit https://ir.maxstock.co.il
Ifat Nir Katz,
General Counsel & Company Secretary