The offering was oversubscribed 2.5-fold.
Holding company D Medical Industries Ltd. (TASE:DMDC) has strengthened its shareholders equity through a stock issue on the basis of a shelf prospectus. The company raised NIS 3.88 million at NIS 0.97 per share - 50% higher than the offering made two months ago. In May, D Medical raised NIS 2 million at NIS 0.65 per share, and it decided to exploit the rise in the share price to hold another offering.
The price of the new offering was held near yesterday's opening price, and higher than the original asking price of NIS 0.92 per share.
The offering was oversubscribed 2.5-fold. The company had originally planned to raise NIS 3.68 million, but expanded the offering slightly when it received orders for NIS 9.7 million. The company rejected most of the offers.
D Medical's share rose by 4.2% in morning trading to NIS 1.02.
Published by Globes [online], Israel business news - www.globes-online.com - on July 22, 2009
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