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Discount Investment Rises to Week-High After Ham-Let Report

June 6 (Bloomberg) -- Discount Investment Corp. rose to the highest level in more than a week after a report the holding company is seeking to sell its stake in Ham-Let Ltd.

The shares advanced 2.8 percent to 8.474 shekels, the highest level since May 29, at the 4:30 p.m. close in Tel Aviv. Ham-Let, an Israeli maker of industrial-plumbing supplies, rallied 6.9 percent, the most since Oct. 5, to 29.82 shekels.

Discount Investment is seeking buyers for its 60.1 percent stake in Ham-Let, daily Globes reported late yesterday, without saying how it obtained the information.

Discount receives purchasing offers for Ham-Let from time to time, a spokeswoman, who declined to be identified citing company policy, said in a response sent by text message.

Israeli businessman Nochi Dankner holds a stake in Discount Investment via his holdings in IDB Holding Corp. IDB Holding advanced 0.8 percent to 14.80 shekels.

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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