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Industrial Building Climbs to Highest Since November in Tel Aviv

Jan. 16 (Bloomberg) -- Industrial Buildings Corp. rose to the highest in more than two months after the operator of industrial buildings said Jerusalem Economy Ltd., its parent company, is considering buying the outstanding shares.

Industrial Buildings gained 2.4 percent to 6.09 shekels, the highest since Nov. 8, at the 4:30 p.m. close in Tel Aviv. Jerusalem Economy, which owns a 79.54 percent stake in Industrial Buildings according to data compiled by Bloomberg, climbed 4.7 percent to 26.30 shekels.

Industrial Buildings said Jerusalem Economy may buy the stake in a share swap.

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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