Frost invests in Protalix through Frost Gamma Investments, which Protalix states now owns 3.8% of the company. In other words, Frost is no longer a party at interest in Protalix, and it will no longer be possible to monitor his movements in the company.
Frost invested $24 million in Protalix five years ago, becoming one of its largest investors. He is known as a major philanthropist. According to the SEC filing, he donated 800,000 Protalix shares, currently worth around $8 million, to various charities. Donating shares to charities has increasingly become a habit in the US capital market; Apple Inc. (Nasdaq: AAPL) executives recently did this.
Protalix's share price fell 1.4% on the American Stock Exchange on Friday to $9.86, and fell 2.5% by midday on the TASE today to NIS 35.05.
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