Davis Polk Advises Max Stock Ltd. on Its International Initial Public Offering

Davis Polk advised Max Stock Ltd., as the issuer and Moose Holdco Ltd., Uri Max Ltd. and Oria & Iris Ltd. LP, as the selling shareholders on Max Stock’s initial public offering and listing on the Tel Aviv Stock Exchange of 45,000,000 ordinary shares pursuant to Rule 144A and Regulation S. In connection with the initial public offering, Moose Holdco Ltd. has also granted the initial purchaser an overallotment option in respect of up to an additional 6,750,000 shares. The total value of the offering amounted to NIS 621 million (approximately $188 million), assuming full exercise of the overallotment option.

Max Stock is a leading high-growth, extreme value retailer in Israel, offering a broad assortment of quality, everyday essential items at prices up to 50% lower than conventional retailers.

The Davis Polk capital markets team included partners Michael Kaplan and Reuven B. Young, counsel Connie I. Milonakis and associate Gil Savir. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Associate Brantley Hawkins provided 1940 Act advice. Members of the Davis Polk team are based in the New York and London offices.