Israel Corporation

plans to raise about a billion shekels by floating securities on the Tel Aviv Stock Exchange, reports

Ma'ariv

. The company has not issued new securities for years.

The prospectus will be released contingent on favorable market conditions and shape price.

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The company wants the funds to finance part of its $500 million multiyear investment plan. The rest will be financed by bank loans. The plan will be presented to the company's board within a few days.

Israel Corporation apparently plans to enter into new communications fields and intends additional investments in technology.

President and CEO Yossi Rosen told

Ma'ariv

that while the company wants to raise fresh funds, it does not have a gun to its head and the schedule will be set by conditions in the capital market and the pace of investment.