Delek Group to cut stake in Delek US to 9.8%


Israel's Delek Group (DGRLY) says its stake in Delek US Holdings (DK) will fall to 9.8% and it will raise 954M shekels ($276M) from the sale of 9.2M shares.

Delek Group, which owns stakes in the giant Tamar and Leviathan natural gas fields off Israel's Mediterranean coast, has been seeking to divest other holdings to raise funds.

Also, Delek US announces the pricing of the secondary offering at $30/share.

DK -2.5% premarket after falling 3.3% during yesterday's trade.

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