Yaki Reisner, a prominent Haredi real estate developer, is reportedly considering an initial public offering for his company, Reisdor Initiatives, on the Tel Aviv Stock Exchange for an evaluation of approximately NIS 1.5 billion ($400 million).
Reisner, also a film and television producer, is wrapping up meetings with major underwriters and is expected to decide after the Jewish holidays. Two options are under consideration: an IPO aimed at raising around NIS 300 million ($70 million), or a bond issuance of up to NIS 500 million ($130 million).
Reisner is being advised by Merav Sigal, chairwoman of Libra Insurance, but has declined to comment on the potential offering. If it proceeds, the IPO would be the largest on the Tel Aviv exchange this year.
Reisdor Initiatives, which Reisner founded in 2005 at age 25, has grown from its roots in Haredi housing projects to a diversified firm with interests in residential construction, urban renewal and commercial real estate.
The company currently manages 1.73 million square feet of office space and has built or is developing 12,500 apartments across Israel. Reisdor is also involved in large urban renewal projects and is developing two 34-story office towers in Bnei Brak.
Reisner, 44, comes from a distinguished Haredi-Lithuanian family in Bnei Brak. Despite his religious background and education in prestigious yeshivas, Reisner pursued a career in real estate, starting as a warehouseman at a construction site. Over the years, he built Reisdor into a major player in Israel's real estate market, known for cautious, risk-averse investments.
In addition to real estate, Reisner is involved in the entertainment industry. He produced the film Good Guys, released in 2022, and has co-produced several films and TV series, including Love You Charlie and HaZvi. He and his wife Tovi, whom he married at age 19, reside in Elad and are now grandparents.
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First published: 23:25, 10.06.24