Phoenix Holdings Amends Formula Systems Stake, Signals Ownership Shift
Ticker: FORTY · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 1045986
| Field | Detail |
|---|---|
| Company | Formula Systems (1985) Ltd (FORTY) |
| Form Type | SC 13G/A |
| Filed Date | Feb 12, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 5 min |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: beneficial-ownership, institutional-investor, amendment, equity-stake
TL;DR
**Phoenix Holdings updated its stake in Formula Systems, watch for market reaction.**
AI Summary
Phoenix Holdings Ltd. filed an amended SC 13G/A on February 12, 2024, indicating a change in their beneficial ownership of Formula Systems (1985) Ltd. American Depositary Shares as of December 31, 2023. This filing, Amendment No. 4, updates their previous disclosures regarding their stake in Formula Systems, which operates in computer programming services. This matters to investors because changes in significant institutional ownership can signal shifts in confidence or strategy regarding the stock, potentially influencing its market perception and price.
Why It Matters
This filing shows an update to a major institutional investor's stake, which can influence market sentiment and potentially impact Formula Systems' stock price.
Risk Assessment
Risk Level: low — This filing is a routine update of beneficial ownership and does not inherently present a high risk, though changes in ownership can influence stock price.
Analyst Insight
Investors should monitor subsequent filings from Phoenix Holdings Ltd. and Formula Systems (1985) Ltd. to understand the specific changes in ownership and any potential strategic implications.
Key Players & Entities
- Phoenix Holdings Ltd. (company) — the reporting person filing the SC 13G/A
- Formula Systems (1985) Ltd. (company) — the issuer whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- February 12, 2024 (date) — the filing date of the SC 13G/A
- American Depositary Shares (other) — the class of securities owned
- 346414105 (other) — the CUSIP number for Formula Systems' securities
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, specifically Amendment No. 4, filed under Rule 13d-1(c) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is The Phoenix Holdings Ltd., an organization based in Israel.
What is the subject company whose shares are being reported?
The subject company is Formula Systems (1985) Ltd., which operates in computer programming services.
What is the specific class of securities being reported by Phoenix Holdings Ltd.?
The specific class of securities being reported is American Depositary Shares, representing one Ordinary Share, NIS 1 par value, of Formula Systems (1985) Ltd.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023.
Filing Stats: 1,228 words · 5 min read · ~4 pages · Grade level 11.8 · Accepted 2024-02-12 12:40:12
Filing Documents
- zk2430926.htm (SC 13G/A) — 68KB
- 0001178913-24-000465.txt ( ) — 69KB
(a) Name of Issuer
Item 1. (a) Name of Issuer : Formula Systems (1985) Ltd. (b) Address of Issuer's Principal Executive Offices : Yahadut Canada 1 Street, Or Yehuda 6037501, Israel
(a)
Item 2. (a) Name of Person Filing : The Phoenix Holdings Ltd. The securities reported herein are beneficially owned by various direct or indirect, majority or wholly-owned subsidiaries of the Phoenix Holdings Ltd. (the "Subsidiaries"). The Subsidiaries manage their own funds and/or the funds of others, including for holders of exchange-traded notes or various insurance policies, members of pension or provident funds, unit holders of mutual funds, and portfolio management clients. Each of the Subsidiaries operates under independent management and makes its own independent voting and investment decisions. (b) Address of Principal Business Office : The address of the Phoenix Holdings Ltd. is Derech Hashalom 53, Givataim, 53454, Israel. (c) Citizenship : The Phoenix Holdings Ltd. - Israel (d) Title of Class of Securities : American Depositary Shares, representing one Ordinary Share, NIS 1 par value (e) CUSIP Number : 346414105 3 Item 3 . Not applicable. Item 4 . (a) Amount beneficially owned : See row 9 of cover page of each reporting person. Each of the Subsidiaries operates under independent management and makes its own independent voting and investment decisions. Neither the filing of this Schedule 13G nor any of its contents shall be deemed to constitute an admission by either the Filing Persons or Subsidiaries that a group exists for purposes of Section 13(d) of the Securities Exchange Act of 1934 or for any other purpose, and each reporting person disclaims the existence of any such group. In addition, each of the Filing Persons and Subsidiaries disclaims any beneficial ownership of the securities covered by this report in excess of their actual pecuniary interest therein. This