Matthew Bronfman sold the shares for NIS 360 million through Citi.
Matthew Bronfman has sold a 6% stake in Israel Discount Bank (TASE: DSCT) for NIS 360 million. The distribution of the shares was carried out by Citi and half of the shares were sold to foreign investors.
Bronfman, who was one of the controlling shareholders in the bank, sold 62 million shares and now sees his stake in Discount Bank fall below 5%. This means he now no longer needs to sell shares as part of the dispersal outline applying to the core control.
Just last week Rubin Schron sold his last 3.6% stake in the bank for NIS 220 million.
The market consensus is that after Bronfman's latest sale, there will be no more major sales of Discount Bank shares.
Published by Globes [online], Israel business news - www.globes-online.com - on September 4, 2014
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Matthew Bronfman