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Africa-Israel Properties, Magic Software: Israel Equity Preview

Dec. 21 (Bloomberg) -- The following stocks may rise or fall in the Israeli market. Stock symbols are in parentheses after company names and prices are from the last close unless otherwise stated.

The TA-25 Index gained 0.5 percent to 1,314.73 in Tel Aviv.

Afcon Electro-Mechanics Ltd. (AFEM IT): A unit of the electronic equipment manufacturer won a tender from a government body. Afcon closed unchanged at 4.2 shekels.

Africa-Israel Properties Ltd. (AFPR IT): The real estate developer plans to raise 150 million shekels ($41.6 million) in a bond issuance after a planned initial public offering of its unit, AFI Europe NV, failed, Calcalist reported, without saying where it obtained the information. A call to the company’s spokeswoman before business hours wasn’t answered. Africa declined 1.2 percent to 55.80 shekels.

Magic Software Enterprises Ltd. (MGIC IT): The software developer raised $21.2 million through selling shares in a private placement to institutional investors. Magic increased 4.3 percent to 27.65 shekels.

To contact the reporter on this story: Ronit Goodman in Tel Aviv at

To contact the editor responsible for this story: Claudia Maedler at

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