Legally Israel – News Roundup December 17th 2021

As we roll on towards the end of the year, it’s another week of firsts. First Digital Bank, the first Israeli bank in over 40 years, has raised USD 120 million, with Meitar  acting for First Digital Bank, Yigal Arnon and Baker McKenzie for the largest investor Tencent and Herzog, Fox & Neeman for investors. 

Econergy Renewable Energy has completed its first successful Convertible Bond issuance, led by Erdinast, Ben Nathan, Toledano & Co. With Hamburger Evron. Delek Drilling also sold a 22% stake in the Tamar and Dalit natural gas reservoirs to Abu Dhabi company for over USD 1 billion, with Agmon & Co. Rosenberg Hacohen & Co. advising.

Gornitzky acts for Israeli Fintech company Rapyd in its acquisiton of a Hong Kong-based Neat.

Two firms this week set out their intentions for 2022 when Gornitzky  snapped up 13 senior lawyers from EMS, bringing in diverse experience across high-tech, IP and more, while Agmon & Co. Rosenberg Hacohen & Co. added labor law expertise following its merger with Labor law boutique Lapidor & Co. 

In other news, Israeli startups raise record USD 25.4 billion in first 11 months of 2021, with 33 new Unicorns being born this year, taking Israel’s total to 53. With the publication of Chambers and Partners annual Fintech Israel rankings, Herzog Fox Neeman and Meitar maintain their pole position.