Israel's Internet Gold sells 8.8 mln shares in private placement

B Communications

12/06/2018 09:06

TEL AVIV, June 12 (Reuters) - Israel's Internet Gold-Golden
Lines  IGLD.TA  said it sold 8.8 million shares via a tender
offer to certain institutional and private investors and expects
gross proceeds of 100 million shekels ($28 million).
    On Sunday the company said it was considering offers to sell
part or all of its shares in B Communications  BCOM.TA , through
which it controls Israel's largest telecoms group, Bezeq
 BEZQ.TA .  urn:newsml:reuters.com:*:nL8N1TC0E6
    "We will continue to assess all available alternatives to
increase value for our shareholders and act in the interest of
our debenture holders," Chairman Ami Barlev said.
    Each share was priced at 11.25 shekels. The company also
issued warrants to buy 4.4 million shares at 11 shekels each.
    As directed by court-appointed special liquidators, Eurocom
Communications, Internet Gold's indebted controlling
shareholder, also participated in the private placement and is
maintaining its same holding in the company. Eurocom bought 4.8
million shares and 2.4 million warrants.
    Internet Gold plans to use proceeds of the private placement
to support its ongoing operations and service its debt. 
($1 = 3.5713 shekels)

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