Lev Leviev
Leviev to join American stock exchange
Africa Israel real estate company, owned by Israeli billionaire, to issue shares in US by early 2008
Africa Israel Investments Group, chaired by Israeli billionaire Lev Leviev, plans to issue shares of its United States assets on the American Stock Exchange by the first half of 2008.
According to estimates, the company's assets in the US total between $1.3 billion and $1.7 billion.
After joining the stock market, this value could leap to over $2 billion.
The practical preparations for the share issue will begin after the completion of division of assets between the company and businessman Shaya Boymelgreen, who holds some 35 percent of their shared assets in the US.
According to Yedioth Ahronoth newspaper, a separation agreement between Leviev and Boymelgreen has been reached and within the next few weeks the parties should announce that most of the assets will remain with Africa-Israel.
A few projects will remain under joint ownership until they are sold.
