New York real estate developer leaving Tel Aviv stock exchange earlier than expected, with one regret
Real estate developer Amir Shrik, owner of Aya New York, completed the full redemption of bonds he issued on the Tel Aviv Stock Exchange and their delisting, three years ahead of schedule. The 292 million shekel issuance was accompanied by a dispute with Value Base and dual liens. Shrik admits: "I didn't internalize the conduct here."
Real estate developer Amir Shrik, owner of Aya New York, completed early this week the full redemption of bonds issued by the company on the Tel Aviv Stock Exchange and their delisting, three years ahead of the original date. The issuance, totaling 292 million shekels, was carried out less than a year ago. Along the way, there was a publicized dispute with the investment house Value Base, which filed a lawsuit for 11 million shekels, and a clash with bondholders due to dual liens on the company's assets. Shrik approached Citibank for a loan to repay the debt. In an interview, he admits he did not internalize the conduct of the Israeli capital market, noting that the negative sentiment toward American and BVI companies hurt the strategy. He emphasizes that he is not closing the door to the Israeli market and that the company's deal pipeline in New York exceeds one billion dollars.