TEL AVIV, Dec 30 (Reuters) - Gazit-Globe GZT.TA , Israel's
largest real estate investment company, has accepted 600 million
shekels ($154 million) in precommitments from institutional
investors in a planned share offering in Tel Aviv.
The company said on Wednesday it offered in a tender units
of 10 shares and accepted precommitments to buy 1.69 million
units, or 16.9 million shares. Of this amount, 850,000 units
were allocated to Norstar Holdings Inc NSTR.TA , which owns
50.25 percent of Gazit-Globe.
The price set in the tender was 35.5 shekels a share.
Gazit-Globe GZT.N said the public offering was still
subject to receipt of certain approvals and that the final price
would be determined in a public tender.
The company, whose share price has fallen 25 percent this
year to close at 34.62 shekels on Tuesday, has a market value of
6.2 billion shekels.
It operates in the United States through Equity
One EQY.N and in Canada through First Capital Reality Inc
FCR.TO . It is the largest shareholder in Finland's Citycon
CTY1S.HE , controls shopping mall developer and is expanding in
Brazil.
($1 = 3.8965 shekels)