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Ham-Let Jumps Most in 30 Months on Discount Stake Sale

June 27 (Bloomberg) -- Ham-Let (Israel-Canada) Ltd. advanced the most in almost two and a half years after Discount Investment Corp. 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.

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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