Ormat Industries Gains Most in Six Months After Sale, Profit
Ormat Industries Ltd. (ORMT) gained the most since September after the developer of geothermal power plants agreed to sell a stake and reported a fourth-quarter loss that narrowed.
Fimi Opportunity Funds will purchase a 12 percent stake in Ormat for about 297 million shekels ($79 million). Ormat said it will sell about 13.7 million shares for 21.7 shekels each.
Separately, the company said it had a fourth-quarter loss of $24.9 million after a loss of $44.3 million a year earlier.
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