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Elbit Imaging Ltd. (NASDAQ:EMITF) plans to restructure its unsecured financial debts

Boston, MA 05/23/2013 (wallstreetpr) – The Israel based holding company, Elbit Imaging Ltd. (NASDAQ:EMITF) surged in share prices by a nominal 1.43 percent to close at $2.13 per share for the end of the trading session. The shares of the company traded in the range of $2.13 to $2.30 per share during the day. Elbit Imaging Ltd. (NASDAQ:EMITF), based in Israel operates in the real estate sector and is involved in the construction and sale of various projects.

Elbit Imaging Ltd. (NASDAQ:EMITF) normally takes up the initialization, construction and sale of shopping and entertainment centres and other mixed use real property projects, mostly in the retail sector. The company has another major business segment called the United States Real Property which is involved in the investment in commercial real property in the US. Further, the Hotels segment of Elbit Imaging Ltd. (NASDAQ:EMITF) takes care of management and operation of hotels.

Proposal to restructure the unsecured financial debts

Recently, Elbit Imaging Ltd. (NASDAQ:EMITF) had been planning to restructure its unsecured financial debt and is thereby looking for approval from the unsecured creditors and shareholders for the proposed restructuring plan. In line with this proposal, Elbit Imaging Ltd. (NASDAQ:EMITF) had moved the Tel Aviv district court seeking permissions to convene the meeting of shareholders and unsecured creditors.

The average trading volume of Elbit Imaging Ltd. (NASDAQ:EMITF) is at 7,774 shares per day and the company 24.89 million shares outstanding in the market. The company has a market capitalization of $53.01 million.

Published by Benjamin Roussey

Benjamin Roussey is from Sacramento, California. He has two master’s degrees and served four years in the U.S. Navy. His bachelor’s degree is from CSUS (1999) where he was on a baseball pitching scholarship. His second master’s degree is an MBA in Global Management from the University of Phoenix (2006). He has worked for small businesses, public agencies, and large corporations. He has lived in Korea and Saudi Arabia where he was an ESL instructor. Benjamin spends his time in between Northern California and Cabo San Lucas, Mexico, committing himself to his craft of freelance and website writing.

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