Bloomberg News

Israel Land Energy Jumps to Six-Week High on Investment Talks

October 04, 2011

Oct. 4 (Bloomberg) -- Israel Land Development Co. Energy Ltd. advanced to the highest level in six weeks as the natural- gas explorer said it was in talks with Israel Corp. and other entities for an investment in the company.

The shares climbed 5.3 percent to 1 shekel at 1:46 p.m. in Tel Aviv, the highest intraday price since Aug. 23, giving the Tel Aviv-based company a market value of 840 million shekels ($223 million). Israel Corp. slumped 5.8 percent to 2,280 shekels, the lowest since Sept. 13.

--Editors: Shanthy Nambiar, Peter Branton

To contact the reporter on this story: Susan Lerner in Jerusalem at slerner2@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net -0- Oct/04/2011 12:12 GMT


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