This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Internet Gold Announces That Its 75% Owned Subsidiary, B Communications Ltd., Successfully Raised NIS 400 Million in a Private Placement Of its Ordinary Shares

Internet Gold – Golden Lines Ltd. (Nasdaq:IGLD) (the “Company”), a member of the Eurocom Group, today announced that its 75%-owned subsidiary, B Communications Ltd., successfully raised NIS 400 million (US $108 million) in a private placement of 3,448,275 of its ordinary shares to Israeli institutional investors and the Company. Based on the Company’s irrevocable undertaking to subscribe for approximately 75% of the offering on the same terms and conditions negotiated with the third-party institutional investors, and the Company will purchase 2,599,310 ordinary shares.

The offering price of NIS 116 (Approximately $31.2) per ordinary share was determined by means of a tender by third party institutional investors. The offering price represents a premium of 1.5% above the opening price of the Ordinary Shares today on the Tel-Aviv Stock Exchange, and a premium of 7% above the minimum price of the tender.

Eli Holtzman, CEO of Internet Gold commented: "Our main goal in this private offering is to improve B Communications’ available financial resources and metrics, including its working capital and debt to equity ratio post the Bezeq transaction. We are very pleased with the results and are looking forward to the successful closing of the Bezeq acquisition. We thank the investors for their vote of confidence."

The shares were offered exclusively in Israel to Israeli institutional investors and Internet Gold. The funds raised from the investors in the private placement will be deposited in trust until the issuance of the shares by B Communications, which is subject to receipt of the Tel Aviv Stock Exchange and NASDAQ Stock Market approvals for the listing of the shares. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

About Internet Gold

In October 2009, Internet Gold announced that its subsidiary, B Communications Ltd. (Nasdaq:BCOM) (previously known as 012 Smile.Communications Ltd.), had signed a definitive agreement to purchase the controlling interest (approximately 30.66%) in Bezeq, The Israel Telecommunication Corp., Israel’s largest telecommunications provider (TASE: BZEQ). For further information, please visit our website:

Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include risks associated with the pending acquisition of the controlling interest in Bezeq The Israel Telecommunication Corp. and other risks detailed from time to time in B Communications’ filings with the Securities Exchange Commission. These documents contain and identify other important factors that could cause actual results to differ materially from those contained in our projections or forward-looking statements. Stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update publicly or revise any forward-looking statement.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
IGLD $13.66 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs