Menu JTA Search

British Banking Firms Underwrites Shares for Dead Sea Works

The British banking firms M. N. Rothschild and Sons and S.G. Warburg and Company have agreed to underwrite a block of ordinary shares of the Israel Dead Sea Works for distribution in Britain and other European countries, it was reported here today in the Financial Times.

The shares are part of a new issue by the company of 27, 000, 000 ordinary shares, conditional on the granting of long-term credits to the firm totaling $35, 000, 000 by the World Bank and a private American banking institution.