Cellcom Israel Announces Preparation for NIS 400 Million Equity Offering in Israel
CELLCOM ISRAEL (CEL)
US:NYSE Investor Relations:
investors.cellcom.co.il
Company Research
Source: PR Newswire
NETANYA, Israel, Dec. 1, 2019 /PRNewswire/ -- Cellcom Israel Ltd. (NYSE: CEL) (TASE: CEL) (the "Company") announced that its Board of Directors has instructed the Company to prepare for a potential offering of ordinary shares in an aggregate amount of approximately NIS 280 million and 2 series of options to purchase ordinary shares in an aggregate amount of approximately NIS 120 million, to the public in Israel and to certain institutional investors outside Israel. The Company's controlling shareholder has informed the Company that if such offering will be effected by the Company, the Company's controlling shareholder intends to purchase such securities at least in an amount that shall allow it to keep its current holdings in the Company.The execution, timing, terms and amount of such contemplated offering have not yet been determined and are subject to further approval of the Company's Board of Directors, publication of a supplemental offering report and the prior approval of the Tel
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