Israeli digital ad company Matomy Media Group (LSE:MTMY; TASE: MTMY)) has appointed RBC Capital Markets as its financial adviser to consider strategic alternatives. The move comes a short while after the Brosh hedge fund became a party at interest in the Tel Aviv based firm with a 7% stake and recommended such a strategic review.
Matomy added that this is a continuation of the process initiated by the board of directors in June. The company added that, "it is appropriate at this juncture to evaluate all opportunities to maximize value for shareholders. Subject to the conclusions of the strategic examination, the board will continue to lead the process regarding existing strategy and these strategic initiatives that are expected to yield growth and build value for shareholders."
Matomy, which in February dual-listed on the Tel Aviv Stock Exchange in addition to London, to make its shares more accessible to Israeli investors, has a market cap of NIS 560 million, well below the value of its London IPO in 2014.
Ilan Shiloah and Publicis Group together have a 36% stake in Matomy.
Published by Globes [online], Israel business news - www.globes-online.com - on October 18, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
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