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After the sale each kibbutz member will be worth NIS 7-8 million (about $2 – $2.3 million)
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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.
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JP Morgan and Barclays acted as bookrunners in the offering together with Credit Suisse, Bank of America and UBS.
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Will you offer us a hand? Every gift, regardless of size, fuels our future.
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You can support us for as little as $1 via PayPal at [email protected].
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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
