Bloomberg News

Orckit Rises Most Since March 2010 on Agreement With Bondholders

January 09, 2012

Jan. 9 (Bloomberg) -- Orckit Communications Ltd. soared the most since March 2010 after telecommunications equipment provider said it reached an agreement in principle with representatives of its Series A convertible notes’ holders.

The shares surged 21 percent to 3.33 shekels at 2:55 p.m. in Tel Aviv, giving the company a market value of 76 million shekels ($20 million).

--Editors: Shanthy Nambiar, Shaji Mathew

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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