Arison owns 26% of Bank Hapoalim.
Bank Hapoalim (TASE: POLI) controlling shareholder Shari Arison has approached capital market sources with the intention of selling part of her holding in the bank. She plans to sell shares worth $100 million.
Market estimates are that Arison is looking to sell the shares at a 2.5% discount to the market price on the day of the distribution.
The shares are apparently shares she bought through Israel Salt Industries in 2008, when she took advantage of a low in the share price.
Arison owns 26% of Bank Hapoalim through Arison Holdings Ltd.) and Israel Salt Industries Ltd. (TASE:SALT).
Bank Hapoalim's share fell 1.8% in morning trading to NIS 16.53, giving a market cap of NIS 22.22 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on January 11, 2010
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