Tao Tsuot buys Gilon stake: Tao Tsuot exercised warrants for 7.7 million Gilon shares worth NIS...

Byline: Roy Meltzer

Jan. 18--Tao Tsuot Ltd. (TASE: TAO-M) is exercising an option on shares in Gilon Investments (1979) Ltd. (TASE:GILN). Gilon is a financial boutique specializing in managing nostro portfolios with a focus on exploiting arbitrage gaps for dual-listed shares and momentary market distortions.

Tao Tsuot exercised series 2 warrants for 7.7 million Gilon shares worth NIS 25 million. Tao Tsuot will own 21-31 percent of Gilon, becoming its largest shareholder after its managers Hadar Shamir and Menashe Gleizer, who jointly own 35 percent.