Discount Bank to raise NIS 400 million

Israel's third-largest bank tells TASE it plans to raise at least NIS 200 million in right offering, NIS 200 million in share offering to public
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Israel Discount Bank, the country's third-largest bank, said on Monday it planned to raise at least NIS 400 million (about $109 million) in equity.
Discount will raise at least NIS 200 million ($55 million) in a rights offering and at least 200 million more in a share offering to the public, it said in a statement to the Tel Aviv Stock Exchange.
The bank's controlling shareholders said they planned to fully exercise their rights in the offering. Discount is 26% owned by US businessman Matthew Bronfman's Bronfman-Schron group.
Last month the government sold its remaining 11.69% stake in Discount for NIS 832 million ($226 million) to US-based banking group Citi, completing the bank's privatization. Citi resold the shares to its clients.
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