Israel Corp. To Sell About 6% Of Israel Chemicals

(RTTNews) - Israel Corp. Ltd. (IRLCF.PK), Sunday said it intends to sell about 6 percent or 72 million shares of Israel Chemicals Ltd. (ICLXF.PK) in a secondary offering. Israel Chemicals had earlier today filed statement to list its shares on the New York Stock Exchange.

Morgan Stanley & Co. LLC, Barclays Capital Inc., Deutsche Bank, Goldman Sachs & Co. and BMO Capital Markets Corp. are underwriters of the offering.

Israel Chemicals is a specialty minerals company that serves the agricultural, food and engineered materials end markets.

The transaction is expected to promote the liquidity of ICL's shares following its listing on the New York Stock Exchange, broaden ICL's global investor base and better align ICL with its major industry peers.

As part of the transaction, about 36 million shares are expected to be sold in the form of a direct sale and about 36 million shares are expected to be subject to, and made available in connection with, forward sale agreements.