Migdal (company)

Migdal was founded in Jerusalem in 1934. The original group of investors included local Palestinian Jews, families from Egypt and Italy and the Italian insurance company Assicurazioni Generali which held a 50% stake and provided the original financial and professional backing.^{[citation needed]}

Generali eventually held 70% of Migdal's shares, and Bank Leumi owns almost 10%.^{[citation needed]}

In September 1996, Migdal made its initial public offering on the Tel Aviv Stock Exchange, selling 20% shares stake.^{[citation needed]}

In March 2012 Assicurazioni Generali sold Migdal to Shlomo Eliahu.^[1]

• Economy of Israel