Typo sends Israel Corp. plunging 99% on TASE

Market sources believe that a typo was made by a TASE member, which wanted to sell shares in another company.

The share price of Israel Corporation (TASE: ILCO) fell 99.88% for a few minutes today, activating the fluctuation breaker under Tel Aviv Stock Exchange (TASE) rules. At the moment, requests have been received to cancel erroneous transactions in the share

.

Before the deals are canceled, the average daily transaction is down 84%.

Market sources believe that a typo by a TASE member, which wanted to sell shares in another company, placed a large sale order for Israel Corp. The mistake caused a 2.5% drop in the theoretical price of the Tel Aviv 25 Index.

Published by Globes [online], Israel business news - www.globes-online.com - on August 25, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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