PEC Israel Economic Corporation announced here today that it has filed a registration statement with the Securities and Exchange Commission for a rights issue to be offered to its stockholders. The 39-year-old company has outstanding approximately 786,000 shares of common stock without par value, owned by more than 11,000 stockholders throughout the United States. The stock is traded in the over-the-counter market.
While the number of shares to be offered to stockholders has not yet been determined, the company said it intended to raise approximately $2,000,000 through the proposed rights issue. PEC is engaged in private investment in Israel, and will use the proceeds of the proposed issue for further participation in industry, construction and real estate development, transport and marketing.
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