Delek Israel: The structure of the offering, the amount, and the timing have not yet been determined.
Delek Group Ltd. (TASE: DLEKG) subsidiary Delek Israel Fuel Corporation Ltd. (TASE: DLKIS) today confirmed yesterday's report in "Globes" that the company was considering a public offering and/or private placement.
Delek Israel added that the structure of the offering, the amount, and the timing have not yet been determined, nor have they been approved by the "authorized organization in the company". In addition, there was no certainty that an offering would be held at all.
Yesterday, "Globes" reported that Delek Israel was planning to sell 13% of its shares for NIS 250-300 million, to raise its public holdings share to 25%. Delek Group currently holds 87.94% of the company, which qualifies for listing on the Tel Aviv 100 Index in terms of market cap, but its liquidity is below the 25% public holding threshold.
Published by Globes [online], Israel business news - www.globes-online.com - on August 6, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008