Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Kibbutz Sdot Yam selling Caesarstone shares for $268 million

After the sale each kibbutz member will be worth NIS 7-8 million (about $2 – $2.3 million)
Kibbutz Sdot Yam is selling 5.5 million Caesarstone Bat Yam Ltd. (Nasdaq: CSTE) shares and underwriters have an option to purchase 825, 000 more share within 30 days. The final price of the sale will be set at close of trading on Wall Street today. According to the closing price of $48.73 on the market last night, the shares are worth $268 million with a market cap of $1.7 billion. No money will enter Caesarstone’s coffers from the sale.
PikiWiki_Israel_33318_Kibbutz_Sdot_Yam

JP Morgan and Barclays acted as bookrunners in the offering together with Credit Suisse, Bank of America and UBS.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Caesarstone manufactures high quality engineered quartz surfaces, which are used in both residential and commercial buildings as countertops, vanities, wall cladding, floors and other interior surfaces.

-1

Published by Globes [online], Israel business news – www.globes-online.com 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.