Teuza - A Fairchild Technology Venture Ltd. (TASE:TUZA) announced yesterday that its sold $3.36 million worth of shares in Nova Measuring Instruments Ltd. (Nasdaq:NVMI; TASE:NVMI) during November. Teuza's sales follow sales by Nova shareholder Clal Industries and Investments Ltd. (TASE: CII) for $4.9 million. Nova's share price rose 25% in December to reach a seven-year high.
Teuza and Clal Industries, among Nova's oldest shareholders, sold shares in the company as the share price jumped during 2010. During the year, Clal Industries sold $10 million worth of shares, reducing its holding in the company to 11.3%. It is still Nova's largest shareholder, and the holding is worth $23.5 million.
Teuza's sale of 1.8% of Nova reduced its holding in the company to 3%.
Nova's share price rose 1.4% on Nasdaq yesterday to $8.43, giving a market cap of $168 million. The share price fell 1.1% in morning trading on the TASE today to NIS 30.
Published by Globes [online], Israel business news - www.globes-online.com - on January 4, 2011
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