State-run phone company Bezeq (TASE: BEZQ )today filed an announcement with the Tel Aviv Stock Exchange that it is planning to raise NIS 890 million by February for an early retirement plan.
The company is to raise the capital by selling shares owned by the state. Bezeq will allocate new shares to the state at a similar volume, and the state's holdings will not fall below 51.02%.
Bezeq is to sell shares for no less than NIS 6 per share. The offering will be phased, and the last date for offering shares will not be later than February 21, unless otherwise agreed.
Analysts estimate that Bezeq shares will rise in the coming day or couple of days, but they expect shares will later trade at a 5% discount.