TEL AVIV, Israel-Nexus Telocation Systems Ltd. announced it issued 450,000 ordinary shares of Nexus stock-representing 3.7 percent of the issued share capital of the company-for $5.50 each to Clal Industries and Investments Ltd.
The entire transaction is valued at $2.48 million. Following the issuance and other purchases, Clal will command 9.3 percent of the issued share capital of Nexus.
Clal is one of the largest holding companies in Israel and focuses on industrial and high-tech sectors. It is controlled by Clal (Israel) Ltd.
