Richter family increases Orbotech stake

The share has risen 140% since the end of March.

Dr. Kobi Richter and his wife, Judith, have bought 3.5% of Orbotech Ltd. (Nasdaq: ORBK). Kobi is the younger brother of Orbotech founder and executive chairman Yochai Richter.

According to Orbotech's notice to the US Securities and Exchange Commission (SEC), the Richters bought 1.2 million shares for $12 million last Tuesday, boosting their holding from 4.2% to 7.7%. They paid a 16% premium on that day's share price. Orbotech fell 0.3% in early trading today to $8.97, after initially rising at the opening.

Orbotech manufactures automated optical inspection equipment for printed circuit boards and flat panel displays. The share has risen 140% since the end of March.

Kobi Richter is a founding investor in the company; he originally invested in of Orbot, which merged with Optrotech to form Orbotech. Their current holding is worth about $23.5 million.

Published by Globes [online], Israel business news - - on July 14, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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