Vitania Ltd. (TASE:VTNA) announced a private placement of 550,000 common shares at the price of ILS 11.8 per share for gross proceeds of ILS 6,490,000 on November 27, 2017. The transaction will include participation from Phoenix Finance & Investments Limited (DSE:PHOENIXFIN) for 90,000 shares and Israel Phoenix Fellows for 460,000 shares. The investors will acquire 1.168% stake in the company.

The securities being issued in the transaction are subject to a hold period of six months. The transaction was approved by board of directors of the company.