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Palestine Economic Corporation Registers New Stock Issue in U.S.

The Palestine Economic Corporation has registered with the Securities and Exchange Commission here an issue of 105, 785 shares of common stock to be sold at par value of $25 per share, it was announced today.

According to the prospectus, the company had 484, 285 shares of common stock outstanding, and assets totaling $17,170,401 as of last December 31, The new stock issue is being offered to the public against cash or State of Israel Bonds at par, or both. Proceeds of sale are to be devoted to further participation of PEC in the development of Israel industry.