The sale is at NIS 5.85 a share, 3.7% lower than yesterday's market price.
Rubin Schron is selling off all his holdings in Israel Discount Bank (TASE: DSCT). Sources inform "Globes" that Poalim IBI Underwriting and Investments Ltd. (TASE:PIU) is distributing 3.6% of Discount Bank's shares for NIS 220 million.
Schron is selling his shares at NIS 5.85 a share, 3.7% lower than the price at the end of yesterday's trading.
Sources reported that the Bronfman group preferred not to sell its holdings in the bank for now, due to its confidence in the capabilities of CEO Lilach Asher-Topilsky.
Discount Bank's market cap today totaled NIS 6.83 billion, reflecting a multiple of only 0.54, considered the lowest capital multiple among Israeli banks.
Published by Globes [online], Israel business news - www.globes-online.com - on August 26, 2014
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