The Megurit housing fund has seen its stocks tumble in the three months since it went public, the Kikar Hashabbat Hebrew news website reported on Sunday.
Stock prices fell 12% before the markets closed Sunday, and share prices have seen a slump of 14.2% over the past week.
Kupat Ha'ir, one of the largest haredi charities in Israel, that has been accused of fraud and deception, invested 60 million shekels ($15.6 million), or 24.9% of the fund's value. It has lost 6 million shekels ($1.5 million) to date. The burial society invested 40 million shekels ($10.4 million) and has lost million shekels to date.
According to Kikar Hashabbat, non-haredi institutions have also lost money after investing in the Megurit fund. The organization 'Excellence' and the Jewish National Fund have lost 4 million shekels each.
The Megurit fund announced Sunday morning that it would buy back many of the shares it sold off three months ago. The repurchases are meant to strengthen the value of the shares by reducing the percentage that is held by the public.
The Megurit fund is the first of its kind in Israel. It brings together smaller investors to pool larger amounts of money together and jointly purchase land around the country. the fund administers the land until it reaches profitability.
11 comments:
where's the circus anti Zionist clown hypocrite now? in church?
Yes BH I'm a proud anti-zionist, the kupat hair is a org under the leadership of the bnei brak Zionist gedolim Steinman and Kaniyevski, now what?
2:08 AM--Now DI KENST MIR KISHEN DEM TOCHES DI FARRIKTER BEHEIME.
check your article and then look at the headline
Headline says 15.6 lost article says that was the invested amount .The loss was 10% of that amount
10:22
Oh I'm so sorry ...they only stole 1.5 million
well I got news for you ...this organization should be shut down ... I know much more than i'm posting!
I'm very careful not to speak against any organization,but does anybody know who really runs these huge kupat hair funds?
I really appreciate your invite but I'm already booked way ahead with all the ignorant idiotic donkeys followers of the evil Zionist ideology who wanna KISH DEM TOCHES, AND SINCE ONE SIDE IS EXCLUSIVE ONLY FOR THE BELIEVERS OF THE REBBE KING MESSIAH SO THE OTHER SIDE IS AVAILABLE BUT WITH APPOINTMENTS ONLY
DU FARSHTEIST FARRUKTER CHAZIR?
A shaitel macher?
%2,21%
You don't like Rav Steinman or Rav Kanevsky, you don't like Rav Schneerson nor any of the big rabbis, you hate Zionists and by your admission only one side of your chazzir ass is available , so is your Rav, tell us .
I LOVE the REBBE KING MESSIAH, i really miss him, he was the best or rather HE IS THE BEST
YECHI HAMELECH
so who is your live rav? don't change the subject , the Zionists are coming.
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