JERUSALEM: Discount Investment Corp. plans to raise an immediate 200 million shekels or $55 million in a public bond offering, saying it sought to strengthen its liquidity.
Discount, one of Israel's largest holding companies, said on Thursday the offering would be through widening a current series of 6.6 year bonds.
Should options be exercised, the amount raised could total 660 million shekels by December, it said.
Discount, a subsidiary of financially troubled IDB Holding Corp, controls Cellcom, Israel's largest mobile phone operator.
It also owns 70 percent of Koor Industries, 79 percent of construction firm Property & Building and a key stake in Super-Sol, Israel's largest supermarket chain.
Shares of Discount were down 0.3 percent at midday in Tel Aviv, while its series 6 bond price was down 4.1 percent. (Reuters)
