An application to register 9,000 shares of the Israel Rassco Investment Company of Tel Aviv has been filed with the New York Stock Exchange, it was announced here today, Purchase of the stock, par value 100 Israel pounds, would be only by State of Israel bonds, an unusual arrangement.
The company, formed by the Rassco housing corporation and Sabego, S.A., of Geneva is engaged in building housing, suburban settlements and agricultural villages in all parts of Israel. It would obtain Israel pounds from the Israel Government in return for the bonds accepted as payment in this country.
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