Rubin Schron selling Israeli Discount Bank stake

The sale is at $1.62  a share, 3.7% lower than yesterday’s market price.

 

Rubin Schron

 Rubin Schron is selling off all his holdings in Israel Discount Bank (TASE: DSCT). Sources inform “Globes” that Poalim IBI Underwriting and Investments Ltd. (TASE:PIU) is distributing 3.6% of Discount Bank’s shares for about $61 million.

Schron is selling his shares at $1.62 a share, 3.7% lower than the price at the end of yesterday’s trading.

Sources reported that the Bronfman group preferred not to sell its holdings in the bank for now, due to its confidence in the capabilities of CEO Lilach Asher-Topilsky.

Discount Bank’s market cap today totaled $1.897 billion, reflecting a multiple of only 0.54, considered the lowest capital multiple among Israeli banks.

 

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

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