Novo Holdings A/S, a subsidiary of the Denmark-based Novo Nordisk (NYSE:NVO) Foundation, has recently bolstered its position in the Tel Aviv Stock Exchange Ltd (TASE). The development was confirmed by Orna Goren, head of the Communication and Public Relations Unit at TASE.
The company executed an Over-The-Counter (OTC) transaction on November 2nd, 2023, purchasing an additional 4,312,024 shares at NIS 17.3 each. This acquisition brings Novo Holdings' total holdings to 7,785,515 shares, signifying approximately an 8.42% stake in TASE's issued share capital and voting rights.
The Israel Securities Authority has previously granted Novo Holdings a permit to hold up to 10% of TASE's shares under certain conditions. This latest investment moves the company closer to this threshold.
The Novo Nordisk Foundation itself is a Danish business fund without a controlling shareholder. Its subsidiary's increasing investment in TASE underscores its growing interest in the Israeli financial market.
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