Isramco Drops Most in Three Weeks as Investors Trade in Rights

Isramco Negev 2 LP (ISRAL) dropped the most in three weeks as investors traded in a rights offering today.

Shares of the Petah Tikva, Israel-based company dropped 4.2 percent to 0.456 shekel at the 4:30 p.m. close in Tel Aviv. The benchmark TA-25 index slid less than 0.1 percent.

Isramco said it expects to raise as much as 130 million shekels from the exercise of the rights offering, according to a filing June 14.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

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

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