Israeli Stocks: Pluristem, Priortech, Rabintex, Ravad, Adgar
Israel’s TA-25 Index dropped for the first time in three days, slipping 0.1 percent to 1,205.25 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.87 billion shekels ($543 million) in shares and convertible securities.
The following stocks rose or fell today. Symbols are in parentheses.
Pluristem Therapeutics Inc. (PSTI) gained to the highest level since Feb. 1, advancing 10 percent to 11.24 shekels. The developer of cell-therapy products entered an exclusive license agreement with United Therapeutics Corp. to develop a cell-based product to treat pulmonary hypertension.
Priortech Ltd. (PRTC) rose 4.6 percent to 29.59 shekels, the highest since May 11. The maker of printed circuit boards said its Access unit has signed an agreement in principle to get $30 million in financing from Walden International and another investor.
Rabintex (RABN) Industries Ltd. (RABN IT) surged the most since March 13, increasing 15 percent to 0.323 shekel. The maker of protective materials used by the military said a unit won a tender from Lockheed Martin Corp. that may be worth $7 million.
Separately, Rabintex said it’s unable to make a 1.1 million-shekel ($318,000) payment to holders of its Series Aleph bonds on time and is working to find a solution so the payment can be made within 30 days of the June 30 due date.
Ravad (RAVD) Ltd retreated to the lowest since Dec. 20, dropping 2.6 percent to 7.793 shekels. Adgar Investments & Development Ltd. (ADGR IT) said talks to buy the real-estate developer ended without reaching an agreement. Adgar gained 0.2 percent to 4.681 shekels.
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