Filing Details

SCHEDULE 13G

Under the Securities Exchange Act of 1934

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

☐ Rule 13d-1(b)

 

☒ Rule 13d-1(c)

 

☐ Rule 13d-1(d)

 

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

CUSIP NO.M51474118

 

1	NAMES OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	IDB Development Corporation Ltd.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
	(a)☐
	(b)☐
3	SEC USE ONLY
4	CITIZENSHIP OR PLACE OF ORGANIZATION
	Israel
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		5	SOLE VOTING POWER
			0
		6	SHARED VOTING POWER
			2,986,151 Ordinary Shares
		7	SOLE DISPOSITIVE POWER
			0
		8	SHARED DISPOSITIVE POWER
			2,986,151 Ordinary Shares
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	2,986,151 Ordinary Shares (1)
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
	☐
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	5.39% *
12	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	HC

 

*See Item 4. The 3,081,643 Ordinary Shares consist of (i) 2,986,151 Ordinary Shares held directly by Clal Insurance Enterprises Holdings Ltd. ("CIEH" and the "CIEH Shares", respectively), an affiliate of IDB Development Corporation Ltd., an Israeli corporation, whose debentures are traded in the Tel Aviv Stock Exchange ("IDB Development"); (ii) 94,971 Ordinary Shares held directly by Epsilon Investment House Ltd. ("Epsilon" and the “Epsilon Shares”, respectively), an indirect subsidiary of Discount Investment Corporation Ltd., an Israeli public corporation (“Discount Investment”) and (iii) 521 Ordinary Shares held by Cellcom Israel Ltd. ("Cellcom" and the “Cellcom Shares”), a subsidiary of Discount Investment.

** Based on 55,441,303 Ordinary Shares outstanding as of June 30, 2019 (according to publicly available information provided by the issuer).

(ii)

Shared power to vote or to direct the vote:  see row 6 of cover page of the reporting persons and note in Item 4 above.

(iii)

Sole power to dispose or to direct the disposition of:  see row 7 of cover page of the reporting persons

(iv)

Shared power to dispose or to direct the disposition of:  see row 8 of cover page of the reporting persons and note in Item 4 above

Item 5.

Ownership of 5 Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following ☐.

Item 6.

Ownership of More than 5 Percent on Behalf of Another Person Not applicable.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person

Item 8.

Identification and Classification of Members of the Group Not applicable.

	BY: IDB DEVELOPMENT CORPORATION LTD. for itself and on behalf of EDUARDO SERGIO ELSZTAIN
	By:	/s/  Aaron Kaufman   /s/ Haim Tabouch
	Aaron Kaufman and Haim Tabouch, authorized signatories of  IDB DEVELOPMENT CORPORATION LTD., on behalf of Eduardo Sergio Elsztain, pursuant to an agreement annexed as Exhibit 1 to this Schedule 13G.

Exhibit 1

Authorization letter dated November 11, 2019 authorizing IDB Development Corporation Ltd. to file this Statement on Schedule 13G on behalf of the Reporting Person.

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