Parties at interest in Israeli Nasdaq-listed shares are cashing in their shares. After Gilat Satellite Networks (Nasdaq: GILTF; TASE:GILTF) rose 88% since the beginning of the year to $9, parties at interest in the company decided to sell part of their holdings. Israel Discount Bank (TASE:DSCT) has sold 510,000 Gilat Satellite shares so far this year, some in mid-February, and some a few days ago. The proceeds total $4 million, on the basis of Gilat Satellite's average share price in the past month.
Another Gilat Satellite shareholder, Eliezer Fishman has sold 1.18 million shares so far this year for $10 million.
Following the sales, Discount Bank owns 8.25% of Gilat Satellite's share capital and Fishman owns 13.48%.
Gilat Satellite rose 14% on Nasdaq yesterday to $9.18, reflecting a market cap of $204 million.
Mind CTI (Nasdaq: MNDO; TASE:MNDO) cofounder and board member Lior Salansky old a block of 600,000 shares in early March at an average of $5 per share for a total of $3 million. This was Salansky's first sell-off this year, after selling $5.4 million worth of shares during 2003. He now owns 13.2% of Mind CTI, worth $13 million at the current market price.
Eliezer Fishman is the controlling shareholder in "Globes".
Published by Globes [online] - www.globes.co.il - on March 18, 2004