Published On: Thu, May 29th, 2014

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.

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.

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

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