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Latest Updates / Capital Markets
July 23, 2026
Marketing Foreign Funds to Investors in Israel: When Does an Offer Require a Prospectus?
Section 15 of the Securities Law provides that securities may be offered or sold to the public in Israel only under a prospectus approved for publication by the Israel Securities Authority (ISA). The marketing of foreign funds to Israeli investors is considered an offering of securities and may therefore be carried out without a prospectus only if a recognized exemption applies.
June 28, 2026
Oversight Duty: What Is Expected of Boards of Directors in an Era of Partial Information and Limited Time?
In recent years, boards of directors have been expected to play an active role in overseeing their companies’ activities. Compliance incidents, cybersecurity failures, safety malfunctions, operational and regulatory crises, and even failures in organizational culture expose board members to public and legal scrutiny.
June 24, 2026
Webinar: Defense Industry in a Changing Reality
Our firm, together with BDO, will host a professional webinar on the key issues that companies and funds operating in the defense industry should know—from opportunities and challenges in the defense and dual-use export landscape, to VAT, customs, and targeted tax incentives, as well as legal, financial, and accounting readiness for capital raises, IPOs, and becoming a public company. Adv. Elad Reshtick and Prof. Amichai Cohen from our firm, alongside BDO experts, will speak at the webinar, which will take place on June 30, 2026, at 11:00 AM.
June 18, 2026
Lecture: Board of Directors’ Challenges in Supervising Management
Our firm participated in Fahn Kanne’s 2026 Breakfast Club. As part of the event, Adv. Eyal Nachshon, a partner in our Litigation Department, delivered a lecture on directors’ oversight duties and examined what effective, practical, and reasonable oversight looks like in a world of incomplete information, increasing complexity, and limited time.
May 15, 2026
Hagag Europe Successfully Completes Bond Offering Raising ILS 175 Million
Hagag Europe successfully completed the institutional stage of its Series F bond offering, raising approximately ILS 175 million after receiving demand exceeding twice the planned offering amount. The strong investor demand reflects market confidence in the company’s operations and its continued growth strategy across Europe. Adv. Elad Reshtick, Adv. Raz Landau, and Adv. Ofri Shor from our firm advised the company throughout the offering process.
May 7, 2026
ISA Publishes Directive Regulating One-Off Advisory Services and Alternative Assets
At the end of April 2026, the Israel Securities Authority (ISA) published a new draft directive regulating the activities of licensed investment advisors and marketers when providing one-off services and services in relation to alternative assets. The purpose of the directive is to reduce information asymmetries and mitigate potential conflicts of interest identified during ISA audits that, in some instances, even resulted in enforcement proceedings.
April 6, 2026
Merger Between Cipia Vision and Tomer Import and Marketing of Food Products
Cipia Vision Ltd. has convened a shareholders’ meeting to approve a merger with Tomer Import and Marketing of Food Products (1983) Ltd., expected to take place in early May. Upon completion, Cipia will acquire 100% of Tomer’s shares through a share exchange, with Tomer’s controlling shareholder expected to hold approximately 70.99% of the merged company. Tomer has also reported growth in revenues and profitability. We are representing Tomer throughout the transaction and until its completion.
February 15, 2026
Tomer Goes Public Through Strategic Merger Transaction
Tomer Import Marketing completed a merger transaction with Cipia, a TASE-listed public shell company, thereby becoming a publicly traded company on the Tel Aviv Stock Exchange. The transaction is intended to support the company’s accelerated growth, expand its operations, and strengthen its position in the food sector. We provided comprehensive legal counsel throughout the merger process.
February 10, 2026
Hagag Europe Group in a Strategic Investment Transaction
Adv. Elad Reshtick and Adv. Raz Landau of our firm advised Hagag Europe Group on the structuring and execution of an investment agreement with Avi Levy, the controlling shareholder of Lahav L.R. and Chairman of Delek Israel. The complex transaction included option exercise rights with an aggregate potential value of up to ILS 50 million. It was undertaken as part of the company’s broader capital raising initiative, aimed at strengthening its financial position and supporting continued growth in the real estate and energy sectors in Romania.
January 20, 2026
Lecture to Virtual Currencies and Blockchain Course
We recently lectured as part of BDO Academy’s course on virtual currencies and blockchain. The course is intended for managers and executives, directors, institutional investors, investment managers, and analysts. The lecture focused on the development of regulation in Israel and globally.
January 15, 2026
Completion of an Acquisition Transaction: Canzon Israel Acquires Brooks Cohen Initiatives
The public company Canzon Israel has entered into a binding agreement to acquire the real estate and urban renewal company Brooks Cohen Development. Upon completion of the transaction, Brooks Cohen Development will become a wholly owned subsidiary of Canzon Israel. We are advising Canzon Israel and Brooks Cohen Development throughout all stages of the transaction.
January 8, 2026
IFI & BDO Academy: Company Secretaries Course
We recently took part in the Company Secretaries Course of BDO’s Academy of Finance, in collaboration with the IFI Institute, alongside leading executives and top experts from across the market. As part of the course, we discussed key regulatory issues, including related-party transactions, corporate governance regulation, and securities law. Adv. Omri Oren lectured on the prohibition on the use of inside information, within the context of issues unique to boardroom practice. Adv. Elad Reshtick also participated, addressing periodic financial reporting requirements and legal preparedness for an IPO, covering all relevant legal aspects.
January 7, 2026
Headed to the TASE: Brooks Cohen Entrepreneurship Merges with Canzon Israel
We represented the public company Canzon Israel in its acquisition of real estate company Brooks Cohen Entrepreneurship. Upon completion of the transaction, Brooks will become a wholly owned subsidiary of Canzon.
December 29, 2025
Globes Interview: Real Estate Companies Return to the Stock Market
2025 saw a significant wave of equity and debt offerings by real estate companies on the Tel Aviv Stock Exchange, driven by interest rate changes and bank financing pressures. In an interview with Globes, Adv. Terry Almozlino Arnon, head of the firm's Real Estate Department, emphasizes that market entry requires transparency and public standards and notes that this trend is expected to continue into 2026.
November 24, 2025
Adv. Omri Oren in Globes: IPO Wave Returns to Tel Aviv
The Israeli IPO market has recently witnessed a revival, with nearly 20 new companies already listed on the Tel Aviv Stock Exchange. Adv. Omri Oren, a partner in our Capital Markets Department, spoke to Globes, providing an analysis of the emerging trends shaping Israel’s capital market.
October 20, 2025
Rami Levy Case: Redefining Personal Liability in Public Companies
Adv. Omri Oren and Adv. Hadar Israeli published an op-ed in Calcalist discussing the legal implications and governance challenges arising from the Rami Levy case, which underscores the boundaries of personal liability for CEOs and directors in public companies.
October 15, 2025
Hagag Development Europe: Expansion of Series E Bonds
Advs. Elad Reshtick and Raz Landau from our firm represented Hagag Development Europe in the successful expansion of its Series E bond issuance, raising approximately ILS 94 million at an interest rate of 5% and a weighted average duration of 3.1 years. The transaction follows the company’s recent success in securing five additional international tenders for the construction and development of natural gas infrastructure, with an expected total consideration of approximately EUR 16 million.
October 5, 2025
Reforming Payment Models for Securities and Advisory Services
On the eve of Rosh Hashanah, a joint task force from the Bank of Israel, the Ministry of Finance, and the Israel Securities Authority published an interim report for public comments, proposing a major reform in the way financial institutions (mainly banks, TASE members, and other players) are paid for securities services and investment advice.
October 1, 2025
Adv. Elad Reshtick in TheMarker: Real Estate Entrepreneurs Turning to Capital Market
Adv. Elad Reshtick, a partner in our Capital Markets Department, was interviewed for a feature by TheMarker of leading experts in the field, which sheds light on a growing trend in the Israeli real estate market. Small and mid-sized developers with substantial real estate activity are increasingly turning to the stock exchange to raise capital through public offerings and debt issuances. These entrepreneurs manage hundreds of millions of shekels and continue to demonstrate financial resilience, maintaining a strategic focus on defensive sectors, particularly urban renewal projects.
September 25, 2025
First Series of Prediction Markets in the United States
Prediction markets have experienced rapid growth in recent years, thanks to the emergence of platforms attracting millions of users, such as Kalshi and Polymarket. These platforms have proven successful in predicting the outcomes of diverse events.