Menivim - The New Reit Ltd (TASE:MNRT) announced a private placement of 4,348,000 shares of the company at a price of ILS 1.61 per share for gross proceeds of ILS 7,000,280 on March 28, 2019. The transaction will involve participation from Union Bank of Israel Ltd. (TASE:UNON). The issued shares shall be subject to a 6 month hold period.

The transaction has been approved by the board of directors of the company.