Subscribe to Print Edition | Fri., June 06, 2008 Sivan 3, 5768 | | Israel Time: 02:56 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Advertising Books Peres Conference Business Real Estate Easy Start Travel Week's End Anglo File

Danya Cebus raising NIS 290m By Michael Rochvarger and Nathan Sheva Tags: africa israel  The infrastructures developer Danya Cebus badly needs money after suffering large losses in the first quarter of 2008, which reduced its equity to perilous levels, in respect to its credit rating at least. The company yesterday changed the terms of its upcoming stock placement, increasing the scope from around NIS 200 million to NIS 290 million, based on its current share price on the Tel Aviv Stock Exchange of NIS 26. The company, which is controlled by Lev Leviev's Africa Israel group, plans to sell 4.7 million shares to institutional investors. Advertisement Africa Israel itself is buying 6.4 million more shares from Danya Cebus. The exact share price for the offering will be set on Thursday. Danya Cebus needs the cash to shore up its equity after losing about NIS 150 million after miscalculating its costs on building Route 431. The cost is now estimated at NIS 1.8 billion. More specifically, after the loss, Danya Cebus badly needs the cash infusion to comply with the debt-to-equity ratios demanded by its bankers. Meanwhile it's also suing the state which it blames for its losses on Route 431. Bookmark to del.icio.us   Terrorist donuts U.S. Arabs irate over criticism of celebrity cook's kaffiyeh. All the way to hell Rosner's blog: It's Obama's good intentions that pro-Israel activists fear.

Read & React Abbas slams Obama for saying Jerusalem to stay Israel's undivided capital Responses: 213 German neo-Nazis: We're pro-Israel and we condemn anti-Semitism Responses: 114 Olmert: We're close to stopping Iran's nuclear program Responses: 83 U.S. Arabs irate over criticism of celebrity cook's kaffiyeh Responses: 81 Israeli killed in Negev mortar strike; Gazan girl dies in IAF attack Responses: 92 More Headlines 01:36 Olmert hints major Gaza operation is imminent 02:50 PM to Bush, Abbas: I'll weather legal storm, stay in office 20:50 Israeli killed in Negev mortar strike; Gazan girl, 4, dies in IAF attack 21:07 Ex-MK Bishara: Israel is 'foreign entity' on a Crusader-like path 23:45 Turkey: U.S. backs mediation bid for Syrian-Israeli peace 22:24 A rabbi, an imam and a priest discuss their 'painful verses' 20:23 Blair: Use lessons of Northern Ireland to solve Mideast conflict 22:20 AG Mazuz: No legal grounds yet for forcing Olmert to resign 01:48 Congress: Pentagon concealed useful Iranian intel from CIA in 2001 00:50 Israel lags behind Sudan, Pakistan in number of women in legislature 20:38 Vandals deface concentration camp memorial near Berlin 02:06 Obama's pro-Israel speech before AIPAC riles Arab press Previous Editions Select Day 05 jun 04 jun 03 jun 02 jun 01 jun 30 may 29 may 28 may 27 may 26 may 25 may 23 may

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