Menu JTA Search

Ampal Offers $6,250,000 Worth of Securities in U.s.; to Aid Israel Housing, Development

AMPAL, the American Palestine Trading Corporation, has filed documents registering new issues of three percent, 10-year bonds and 200,000 shares of Class A $10 par value stock with the Securities and Exchange Commission here, it was announced this week-end. The total sum sought for investment purposes is $6,250,000.

The registration certificates declared that the bonds will be sold at 100 percent of their principal amount, while the stock will be marketed at $11 per share. The proceeds of the sale will be used as follows: Housing construction, $2,500,000; transportation and industrial cooperatives, $2,500,000; loans to public works projects and the establishment of industries in the Negev and exports from the U.S., $1,000,000.