The offer to purchase was made at a 9.6% premium on the open price of Scailex, through which Ilan Ben Dov controls Orange franchisee Partner.
Scailex Corporation (TASE: SCIX; Pink Sheets:SCIXF) today announced that chairman and indirect controlling shareholder Ilan Ben Dov has published an offer to purchase 750,000 shares at NIS 17 per share for a total of NIS 12.75 million. The announcement comes a day after Ben Dov's talks to sell half of his Samsung mobile phone import and distribution operations to Teddy Sagi at a value of NIS 600 million collapsed.
The offer to purchase amounts to 1.7% of Scailex. It was made a 9.6% premium on Scailex's opening price of NIS 15.45 today. The share price rose 6.1% by early afternoon to NIS 16.40, after closing at $4 in New York yesterday, giving a market cap of $100 million.
Ben Dov controls Scailex through his 70.1% stake in Suny Electronics Ltd. (TASE: SUNY), and a direct 3.47% stake. Ben Dov controls Orange franchisee Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR) through a 44.5% stake held by Scailex.
Published by Globes [online], Israel business news - www.globes-online.com - on December 21, 2011
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