The Palestine Economic Corporation announced that it is offering a new issue of 120,000 shares of common stock to be sold at par value of $25 per share under a registration statement which became effective on September 27,1961, with the Securities and Exchange Commission. This follows the recent completion of the sale by the company of 124,000 shares at par value aggregating $3,100,000.
According to the prospectus, the 35-year-old company had 579,255 shares of common stock outstanding, and assets totaling $19,794,888 as of June 30, 1961. The new stock issue is being offered for cash and/or State of Israel Bonds. Proceeds will be used for industrial development as well as for development of urban and suburban areas, erection of residential and factory buildings, and development of citriculture in Israel.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
