Israeli Stocks: Azorim, Bio Light, Magic, Pluristem, Ultra Shape

Israel’s TA-25 Index increased 0.4 percent to 1,339.52 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.73 billion shekels ($490 million) in shares and convertible securities.

The following stocks rose or fell today. Symbols are in parentheses.

Azorim-Investment Development & Construction Co. (AZRM IT) dropped for the first time in six days, losing 1.4 percent to 18.10 shekels. The real-estate developer’s ilBBB+ rating was placed on CreditWatch with “negative” implications by Standard & Poor’s Maalot. Earlier, the shares rose as much as 2.8 percent after Boymelgreen Capital Ltd. (BMGN IT) said it is examining several offers it received to buy its unit’s stake in Azorim. Boymelgreen shares didn’t trade.

Bio Light Israeli Life Sciences Investments Ltd. (BOLT IT) soared the most since Sept. 6, increasing 16 percent to 0.428 shekel. A group of investors led by Israel Makov is in talks to acquire a 26.1 percent stake in the company that develops drugs and medical technology for about 10 million shekels.

Magic Software Enterprises Ltd. (MGIC IT) advanced to the highest level since Dec. 14, increasing 4.8 percent to 28.20 shekels. The software developer signed a cooperation agreement with Comselect GmbH to use the company’s iBOLT software.

Pluristem Therapeutics Inc. (PSTI IT) climbed to the highest since shares began trading in Tel Aviv, rising 3.2 percent to 11.86 shekels. The developer of cell-therapy products said it will advance to a Phase II/III clinical trial of its critical limb ischemia treatment.

Ultra Shape Medical Ltd. (ULSP IT) jumped to the highest in almost four weeks, soaring 7.9 percent to 0.041 shekel. The developer of fat reduction technology said a unit completed a clinical trial in China examining the efficacy and safety of its Contour 1 device.

To contact the reporters on this story: Ronit Goodman in Tel Aviv at rgoodman9@bloomberg.net;

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

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