Israel's BCom raises about 118 mln shekels in private placement

B Communications

21/01/2019 07:50

TEL AVIV, Jan 21 (Reuters) - B Communications  BCOM.O  said
on Monday it sold 7.39 million of its ordinary shares in an
auction to certain institutional and qualified investors in
Israel for about 118.2 million shekels ($32 million).
    BCom  BCOM.TA , the parent company of Bezeq Israel Telecom
 BEZQ.TA , said the closing price of each share was about 15
percent higher than the opening price of the auction.
    This comes a day after BCom said it was considering a
private auction of up to 8 million shares.  urn:newsml:reuters.com:*:nL8N1ZK074
    In the coming days, in accordance with consents between debt
holders of parent company Internet Gold  IGLD.TA  and the
trustee of its debentures series, the parties will advance the
possibility of a private placement to Internet Gold.
    Internet Gold  IGLD.O , which owns 64.78 percent of BCom,
has been searching for a buyer for its BCom stake since mid-2018
under heavy pressure from bondholders. BCom has a single asset -
a 26.34 percent controlling stake in Bezeq.
($1 = 3.6949 shekels)

 (Reporting by Tova Cohen; Editing by Steven Scheer)
 ((tova.cohen@thomsonreuters.com; +972-9-899-0222; Reuters
Messaging: tova.cohen.thomsonreuters.com@reuters.net))