Leumi Partners and Stifel Investment Banking have teamed up to provide investment banking services in Israel, aiming to capture a large share of the country's booming high-tech business. Stifel, a subsidiary of Stifel Financial Corp, said the partnership will enable it take a more prominent role in Israel. Leumi Partners, the investment banking arm of Israel's second-biggest bank, Leumi, is looking to offer services overseas.The partnership has already landed its first deal -- the government's privatisation of Israel Military Industries (IMI), developer of the Uzi submachine gun and other arms and ammunition."We could have gone on doing a couple of deals here every year but we wanted a market leadership role," Steven Levy, Stifel's managing director for mergers and acquisitions, told a news conference on Thursday.A couple of the more high-profile initial public offerings Stifel handled were SodaStream International's in 2010 and CaesarStone Sdot-Yam's IPO in 2012.
Stifel Financial Corp. is a financial holding company. Shares of SF traded higher by 1.0233% or $0.5626/share to $55.54. In the past year, the shares have traded as low as $41.47 and as high as $56.33. On average, 525107 shares of SF exchange hands on a given day and today's volume is recorded at 156165.
Stanfield Funds Management Limited (Stanfield) is an Australia-based fund management company. Shares of SFN remained unchanged at $25.95. In the past year, the shares have traded as low as $25.34 and as high as $26.99. On average, 6528 shares of SFN exchange hands on a given day and today's volume is recorded at 1865.
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