Ham-Let (Israel-Canada) Ltd. (HAML) advanced the most in almost two and a half years after Discount Investment Corp. (DISI) said it agreed to sell its stake in the Israeli maker of industrial fittings and valves to Fimi Opportunity Fund.
Ham-Let, based in Nazareth Illit, surged 9 percent, the most since January 2010, to 27.38 shekels ($6.95) at the 4:30 p.m. close in Tel Aviv.
Discount said it entered an agreement to sell its 60.1 percent stake in Ham-Let for $66.1 million, or $7.95 a share, to Fimi. Discount dropped 2 percent to 6.226 shekels.
To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com