Institutional investors who last week participated in Kardan's bond offering have asked the company to provide clarifications.
The prospectus stated that should the deal between
TheMarker has learned that Kardan is considering returning this amount in 90 days, and that the funds will be placed with a trustee. Kardan said that 60 institutional investors participated in the offering.
On Sunday Kardan announced the cancellation of the deal for acquiring 23.6% in the IDB group for about $311 million. Kardan was to invest some $71 million. It is believed that the proceeds from the offering were intended for the deal.