Bio Light Climbs Most in 4 Months on Acquisition Talks
Bio Light Israeli Life Sciences Investments Ltd. rose the most in more than four months after the owner of companies that develop drugs and medical technology said an investor group is in talks to buy a controlling stake.
The shares surged 16 percent, the most since Sept. 6, to 0.428 shekel at the 4:30 p.m. close in Tel Aviv, giving the Ramat Gan-based company a market value of 40 million shekels ($11 million).
Investors led by Israel Makov are in discussions to purchase a 26.1 percent stake in Bio Light for about 10 million shekels, the company said in a statement to the Tel Aviv Stock Exchange today.
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