Ham-Let Jumps Most in 30 Months on Discount Stake Sale
Ham-Let (Israel-Canada) Ltd. (HAML) advanced the most in almost two and a half years after Discount Investment Corp. (DISI) said it agreed to sell its stake in the Israeli maker of industrial fittings and valves to Fimi Opportunity Fund.
Ham-Let, based in Nazareth Illit, surged 9 percent, the most since January 2010, to 27.38 shekels ($6.95) at the 4:30 p.m. close in Tel Aviv.
Discount said it entered an agreement to sell its 60.1 percent stake in Ham-Let for $66.1 million, or $7.95 a share, to Fimi. Discount dropped 2 percent to 6.226 shekels.
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