NextVision plummets after Fidelity share sale
Investment giant Fidelity sold 5.7 million shares in NextVision Stabilized Systems, representing 65% of its holding, for NIS 1.3 billion. The sale at a 7% discount caused NextVision's share price to plunge 12.45% on the Tel Aviv Stock Exchange. A market source described the sale as technical, driven by a fund policy change. Chairperson Chen Golan said the event was unconnected to NextVision's business.
Investment giant Fidelity sold 5.7 million shares in Israeli defense-tech company NextVision Stabilized Systems, representing 65% of its holding, for NIS 1.3 billion. The shares were sold at NIS 227 each, a 7% discount on the previous day's closing price of NIS 244.20. The sale reduced Fidelity's stake from 9.5% to 4% of the company. NextVision's share price plunged 12.45% on the Tel Aviv Stock Exchange this morning. A market source told Globes the sale was technical, driven by a policy change in the specific fund that held the shares, which had to sell all holdings below a certain value after the fund's assets grew from $4 trillion to $6 trillion. Chairperson and co-founder Chen Golan said the event was unconnected to NextVision's business and that the company continues to meet strong demand, building orders for 2027. Fidelity began investing eighteen months ago, buying shares at NIS 85 in March 2025, yielding a 170% gain. 77% of the sold shares went to foreign investors, including US and UK institutions.