ISRAELI FIRMS 1996 - MAJOR INVESTMENTS AND CAPITAL RAISED
LARGEST FOREIGN INVESTMENTS IN ISRAEL IN 1996
(List from "Globes", 01.01.97, p.37, and "Ma'ariv", Business Supp., p.11)
(COMMUNICATED BY GPO ECONOMICS DESK)
Following is a list of the largest foreign investments or
acquisitions in 1996.
BUYER DESCRIPTION OF INVESTMENT AMOUNT
($million)
==========
Applied Materials 100% of Opal Technologies
100% of Orbot Instrumentation 285
Generali 29% of Leumi Insurance (Migdal) 285
Nestle 39.66% of Osem 203
U.S. Robotics 100% of Scorpio 72
Danone 20% of Strauss Nahariya Dairies 56
Jeffrey Keil 3% of Bank Hapoalim 52
Kimberly Clark 49.9% of Hogla 49.9
Northern Telecom 20% Telrad 45
Bay Networks 100% of Armon Networking 33
Republic Bank 100% of Mizrachi New York Bank 28
Microsoft Technology Acquisition from
Panorama Software Systems 18
Ronald Lauder 80% of Jerusalem Capital Studios 15.6
Praxair 50.01% of Maxima 12.9
Unilever 60% of Witco 12.5
NEC 100% of Edunetics 12
Schindler 51% of Nechushtan Elevators 10
Volvo 50% of Merkavim 10
Henkel 50% of Soad 10
Loreal 35.5% of Interbeauty 9
ISRAELI FIRMS WHICH RAISED CAPITAL IN THE UNITED STATES IN 1996
(List by Yonatan Nasi, "Globes", 30.12.96, p.34)
(COMMUNICATED BY GPO ECONOMICS DESK)
ISRAELI FIRMS RAISED $2.3 BILLION ABROAD THIS YEAR (1996). 29 ISRAELI
OFFERINGS ON WALL STREET RAISED $1.037 BILLION. AN ADDITIONAL $475
MILLION WAS RAISED BY COMPANIES IN PRIVATE OFFERINGS. IN THE LARGEST
OFFERING, THE ISRAELI ELECTRIC CORPORATION RAISED $825 MILLION. THE
OFFERINGS' AVERAGE RETURN ON INVESTMENT WAS 8.5 PERCENT, LESS THAN
THE RETURN ON INVESTMENT OF AMERICAN MARKET INDICES.
DATE COMPANY SUM OPENING CLOSING RETURN
RAISED PRICE PRICE ON
($MILLION) ($) 29.12.96 INVESTMENT
($) (%)
1992 225
1993 256
1994 335
1995 543
24.01.96 Nice 23.0 10.0 17.25 + 72.5
24.01.96 E.S.C. 53.5 10.0 27.75 +177.5
01.02.96 Electric Fuel(*) 24.4 6.5 6.375 - 1.9
27.02.96 Vocaltec 47.5 19.0 5.56 - 70.7
13.03.96 Arzan 7.3 3.125 1.875 - 40%
19.03.96 Logal 15.2 8.0 3.125 - 60.9
20.03.96 Cimatron 14.6 7.5 3.75 - 50
27.03.96 Tadiran Telecom 75.0 15.0 21.625 + 44.1
02.04.96 B.O.S. 8.8 5.5 6.75 + 22.7
18.04.96 D.S.P.C.(*) 104.0 13.0 18.375 + 41.3
18.04.96 Wiztec 8.4 6.0 4.875 - 18.7
13.05.96 Tecnomatix 54.2 18.25 25.43 + 39.3
12.06.96 Matav 50.0 18.5 15.375 - 16.8
26.06.96 I.C.T.S. 14.7 7.0 9.75 + 39.2
28.06.96 Check Point 67.6 14.0 21.625 + 54.4
02.07.96 E.S.C.(*) 94.0 24.75 27.75 + 12.1
04.07.96 E.V.S. 18.0 9.0 8.25 - 8.3
29.07.96 Laser Ind.(*) 14.4 12.5 10.0 - 20
01.08.96 Blue Square 75.9 11.0 14.5 + 31.8
08.08.96 M-Systems(*) 15.3 6.0 4.75 - 20.8
27.09.96 Orchit 52.8 16.0 9.625 - 39
02.10.96 I.C.T.S.(*) 13.6 12.375 9.75 - 21.2
16.10.96 Memco 58.0 15.0 17.625 + 17.5
17.10.96 Summit Design 43.7 9.5 9.5
31.10.96 Zag 31.0 10.0 16.75 + 67.5
22.11.96 Accent(*) 15.3 8.5 6.25 - 26.4
22.11.96 Top Image 6.9 5.0 5.0
04.12.96 T.T.I. 15.6 6.25 5.75 - 8
17.12.96 Level-8(*) 14.0 11.0 14.375 + 30.6
TOTAL $ 1.036 MILLION TOTAL RETURN + 8.5%
(*) denotes secondary offering