Ormat Industries Gains Most in Six Months After Sale, Profit
Stock Chart for Ormat Industries (ORMT)
Ormat Industries Ltd. (ORMT) gained the most since September after the developer of geothermal power plants agreed to sell a stake and reported a fourth-quarter loss that narrowed.
Fimi Opportunity Funds will purchase a 12 percent stake in Ormat for about 297 million shekels ($79 million). Ormat said it will sell about 13.7 million shares for 21.7 shekels each.
Separately, the company said it had a fourth-quarter loss of $24.9 million after a loss of $44.3 million a year earlier.
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