The Securities and Exchange Commission today reported that the Israel American Industrial Development Bank Limited of Tel Aviv filed last week a registration statement with the SEC seeking registration of $2,500,000 perpetual 6% debenture stock. The securities are to be offered for public sale at 110% of par. The offering is to be made on a best efforts basis by Israel Securities Corporation; and the selling commission is to be 5% of par.
The Industrial Development Bank was organized last year under the laws of the State of Israel. It was formed by Ampal-American Israel Corporation and the Workers’ Bank Ltd., each of which owns 50% of its authorized and outstanding stock. The Industrial Development Bank plans to emphasize the extension of medium and long term credits, and also to conduct a general banking business, including acceptance of deposits, granting of short term credits and general banking functions, the SEC report stated.
As the Year Turns, Support the Journalism You Trust. JTA covers the stories shaping Jewish life around the world — with the depth this moment calls for. As you reflect on the year ahead, consider a gift that keeps independent Jewish journalism strong.
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.
