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Israel Discount Bank to Offer 300,000 Shares in the United States

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Israel Discount Bank Limited, the second largest commercial bank in Israel, filed today with the Securities and Exchange Commission a registration statement covering a proposed public offering of 300,000 “A” Ordinary Shares. The shares will be offered by an underwriting group headed by Kuhn, Loeb & Co. Incorporated.

The offering will represent the first distribution to the public outside Israel of shares of Israel Discount Bank. In April 1963, the Bank offered shares for the first time to the public in Israel and simultaneously placed a limited number of shares with private investors in the United States. Prior to that time, the shares of the Bank had been privately held. The “A” Ordinary Shares are traded on the Tel Aviv Stock Exchange. The bank, which was founded in 1935, conducts a general banking business, both domestic and international, through 96 branches in Israel and a branch in New York.

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