SCHEDULE 13G: Harel Insurance Discloses Significant 13.1% Stake in Enlight Renewable Energy, Citing Prior Filing Omissions

Harel Insurance Investments & Financial Services Ltd. has disclosed a 13.1% beneficial ownership stake in Enlight Renewable Energy Ltd., correcting previous inadvertent omissions in its SEC filings.

Summary

• Harel Insurance Investments & Financial Services Ltd. reported beneficial ownership of 15,554,695 Ordinary Shares of Enlight Renewable Energy Ltd., representing 13.1% of the class as of March 31, 2025.
• The reported shares include 10,887,596 shares held for public funds (provident, mutual, pension, insurance, ETFs) managed by Harel's subsidiaries with independent voting and investment decisions.
• An additional 680,510 shares are held for third-party client accounts managed by a Harel subsidiary, which has independent investment decisions but no voting power.
• Harel also beneficially holds 3,986,589 Ordinary Shares for its own account.
• The filing clarifies that Harel's shared voting power is 14,874,185 shares, and shared dispositive power is 680,510 shares.
• Harel acknowledged an inadvertent omission to file beneficial ownership statements for December 31, 2023, September 30, 2024, and October 9, 2024.
• On December 31, 2023, Harel beneficially owned 10,080,659 shares (390,776 for its own account).
• On September 30, 2024, Harel beneficially owned 11,818,313 shares (861,074 for its own account).
• On October 9, 2024, Harel first exceeded 10% ownership, beneficially owning 11,869,194 shares (861,072 for its own account).
• The percentage of class (13.1%) is based on 119,095,640 Ordinary Shares issued and outstanding as of March 15, 2025, as reported by Enlight Renewable Energy Ltd.

Sentiment

Score: 7

Explanation: The sentiment is generally positive for Enlight Renewable Energy Ltd. due to a significant institutional investor taking a large stake, indicating confidence. However, there's a minor negative aspect related to the reporting entity's (Harel's) compliance oversight regarding previous filings.

Positives

• The disclosure of a significant 13.1% stake by a major institutional investor like Harel Insurance could be interpreted as a vote of confidence in Enlight Renewable Energy Ltd.'s long-term prospects.
• The substantial portion of shares held through public and client funds indicates broad institutional and retail investor interest managed by Harel's subsidiaries.

Negatives

• Harel Insurance Investments & Financial Services Ltd. inadvertently omitted to file required beneficial ownership statements for December 31, 2023, September 30, 2024, and October 9, 2024, indicating a compliance oversight.

Future Outlook

The document is a beneficial ownership report and does not contain forward-looking statements or guidance regarding Enlight Renewable Energy Ltd.'s business operations or financial performance.

Industry Context

This filing indicates continued institutional investment interest in the renewable energy sector, with a major financial services and insurance group like Harel Insurance taking a significant stake in Enlight Renewable Energy Ltd. It reflects a broader trend of capital allocation towards sustainable and green energy initiatives by large investment entities.

Stakeholder Impact

• Shareholders: The disclosure of a significant stake by a large institutional investor like Harel Insurance may be viewed positively, potentially boosting investor confidence and share price.

Key Dates

Keywords

Enlight Renewable Energy Ltd, Harel Insurance Investments & Financial Services Ltd, Beneficial Ownership, Schedule 13G, Institutional Investment, Renewable Energy, SEC Filing, Shareholding Disclosure