Dankner to invest NIS 20m in IDB Holding stock
IDB Holding Corporation revealed the structure of its planned stock issue, on Tuesday. The group’s controlling shareholder, Nochi Dankner, will put in NIS 20 million of his own money. The Livnat and Maor families, each of which also owns a controlling interest in the IDB group, will invest NIS 20 million and NIS 10 million, respectively. IDB Holding will offer ordinary shares bundled with warrants convertible into shares. It says additional group officers and companies also intend to participate. The capital raised will be used to shore up IDB Holding’s liquidity, ahead of repaying bondholders and banks NIS 250 million in 2012. (TheMarker)
TowerJazz taps institutionals for $64m
Israeli institutional investors have pledged to buy $64 million worth of Series F bonds from semiconductor foundry TowerJazz, the company said on Tuesday.
TowerJazz is expanding the long-term Series F bonds, which mature in two equal installments, in December 2015 and December 2016. The bonds, first issued in 2010, are trading at yields of 12.3%. The offering will be led by Leader Capital Markets and Clal Underwriting, assisted by Poalim IBI, DS-Apex and Barak Capital. TowerJazz stock lost 0.6% on Tuesday. (Vadim Sviderski)
Maman reports rising revenue, hopes for more of the same
Maman Cargo Terminals and Handling, which operates the cargo terminal at Ben-Gurion International Airport, says revenues grew 5% in the fourth quarter of 2011 to NIS 117 million, from NIS 111 million in the corresponding quarter of 2010.
Consolidated net profit came to NIS 7 million, compared to NIS 0.6 million in the same period of the year before. Maman anticipates growth this year, chairwoman Nehama Ronen said, adding that it borrowed NIS 175 million through the Menora and Harel insurance companies to expand its logistics and aviation operations. Maman shares gained 0.3% on Tuesday. (Dror Reich)
