Cellcom Israel announces results of institutional stage of equity offering in Israel

|About: Cellcom Israel, Ltd. (CEL)|By:, SA News Editor

Cellcom Israel (CEL +4.8%) announced a potential offering of ordinary shares of ~NIS 200M and options to purchase ordinary shares of ~NIS 100M, to the public in Israel only.

The Company completed the institutional stage of the offering & received early commitments from institutional investors in Israel for the purchase of ordinary shares for ~NIS 572M and options to purchase ordinary shares for ~NIS 245M in the offering.

In light of the demand, the Company decided to increase the offering amount of ordinary shares to ~NIS 280M and options to purchase ordinary shares to ~NIS 120M.

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