ECM Exchange » auction http://ecmexchange.com IFR\'s coverage of ECM and equity linked markets Tue, 25 May 2010 11:38:59 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 UBS wins another auction http://ecmexchange.com/blog/2010/01/26/ubs-wins-another-auction/ http://ecmexchange.com/blog/2010/01/26/ubs-wins-another-auction/#comments Tue, 26 Jan 2010 11:35:43 +0000 robertvenes http://ecmexchange.com/?p=464 Yesterday evening saw an auction held among about five banks for 8m shares in fertiliser and speciality chemicals company Israel Chemicals. The stock came from Israel Corporation, one of the country’s largest private family holding companies.

UBS was the winner with a bid believed to be around NIS49.40 and as sole bookrunner placed the stock flat to the market at NIS49.90. The deal represented just 0.65% of the company and three days’ trading. The NIS399.2m (US$107m) of stock went mostly to international buyers.

The seller retains a 53% stake post completion, on which it has a 90 day lock-up.

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