Norway's central bank buys Israel Discount Bank stake

Discount Bank

Norges Bank, the Norwegian central bank, now holds a 2.6% stake in the Israeli bank.

Norway's central bank Norges Bank has increased its holding in Israel Discount Bank (TASE: DSCT) to 2.6%. The investment was made last week when Israel Discount Bank raised NIS 480 million in a share offering at NIS 6.93 per share, with a further NIS 224 million to be raised in options.

Norges Bank holds 29.4 million Discount Bank shares worth NIS 201 million.

The purchase of the shares is especially surprising considering that Norges Bank manages the Scandinavian country's sovereign wealth fund, which in 2013 decided to divest its shares in Israeli companies due to the political conflict in the region.

Published by Globes [online], Israel business news - www.globes-online.com - on October 6, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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