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Israel's Internet Gold Plans U.S. IPO - Paper

JERUSALEM (Reuters) - Israel's Internet Gold intends to raise $50 million in an initial public offering on Wall Street, the Ha'aretz newspaper reported Tuesday.

The paper said the issuance would be based on a market valuation of $150 million.

The underwriters for the offering are Lehman Brothers, Oppenheimer and C.E Unterberg, Towbin, Ha'aretz said, adding that the company would embark on a roadshow next week.

The Yedioth Ahronoth daily said the offering would take place next month.

The company and the reported underwriters were not immediately available for comment.

Internet Gold is one of Israel's two largest Internet service providers with about 100,000 customers.

Ha'aretz reported that over the past few months Internet Gold has been in talks with several companies to enter into a strategic partnership. The company is owned by Israel's Eurocom Communications.