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| Electra has completed the recruitment of NIS 63 million in a private stock offering |
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(05/11/2009
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Globs on line)
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The Electra Company has successfully completed a private issuance of stock to institutions, raising NIS 63 million. In the framework of this stock offering, 197,000 shares at a price of NIS 320 per share were allocated to Clal Insurance and associated companies. About one month ago, Electra completed the process of splitting from its subsidiary Electra Investments, in the framework of which Electra’s holdings in Electra Investments were transferred by way of a distribution among Electra’s stockholders, primarily Elco Holdings, Ltd., and the public. Electra’s CEO stated that the assets that were received will be used by the company to strengthen the group’s financial base and to continue development of its activities in various fields
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