April 4, 2019 / 5:46 AM / 18 days ago

Bank Hapoalim accepts bids for 58.25 pct of credit card unit

TEL AVIV, April 4 (Reuters) - Israel’s Bank Hapoalim said on Thursday it accepted bids from institutional investors amounting to 58.25 percent of its Isracard credit card unit at a price of 1.6 billion shekels ($444.5 million).

The bank received offers totalling 2.5 billion shekels from 200 investors and the bids that were accepted reflected a total valuation of 2.7 billion shekels for Israel’s biggest credit card company.

Hapoalim launched the public offering - one of the largest in Tel Aviv in recent years - on Wednesday. ($1 = 3.5996 shekels) (Reporting by Tova Cohen Editing by Steven Scheer)

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