WASHINGTON (Oct. 8)
A registration statement has been filed with the Securities and Exchange Commission by the Israel Industrial and Mineral Development Corporation seeking registration of 30,000 shares of Class “A” stock, $100 par, to be offered for public sale.
The purpose of the company is to make funds available for the industrial and mineral development of Israel. It was formed by AMPAL-American Palestine Trading Corp., and its directors. AMPAL has subscribed, at par, to 998 shares of the company’s Class “B” stock, $100 par, and has paid cash for 498 shares of said stock and acquired two additional shares issued to incorporators of the company. The directors of the company have each subscribed to one share. AMPAL has indicated that it intends to subscribe, at par, to the remainder of the authorized Class “B” stock, 18,984 shares.