Holmes Place (TASE: HLMS) CEO Keren Shtevy has made an extraordinary expression of confidence in the company by buying 7.5% of the shares in it from More Provident Funds for NIS 51 million. The price in the deal was set as the average closing price of the shares in the thirty sessions before completion.
Shtevy will pay NIS 6 million from her own pocket and the balance of NIS 45 million by means of a non-recourse loan from More Provident Funds. In a loan of this kind, should there be a failure in repaying it, More will be able to take back the shares. The loan is for five years with the possibility of a one-year extension. The interest rate was not disclosed in the notice to the Tel Aviv Stock Exchange.
Health and fitness club chain Holmes Place stressed in its announcement of the deal that Shtevy would hold the shares she is purchasing independently, and that there was no voting agreement or other understanding between her and More Provident Funds. The deal is due to close at the beginning of February.
In the past year Holmes Place’s share price has risen by 20%, giving it a market cap of NIS 690 million. The company has tripled its market cap in the past three years. It runs a variety of fitness clubs throughout Israel, and has over 200,000 subscribers. In the third quarter of 2025, the company has revenue of NIS 153 million, up 4% year-on-year, but posted a net profit down 40% at NIS 6 million.
Holmes Place’s share price is currently up by more than 11% on the Tel Aviv Stock Exchange.
Published by Globes, Israel business news – en.globes.co.il – on January 19, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
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