Formula Systems : FORTY Message Board

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Technology Stocks : Formula Systems : FORTY

FORTY 167.02

-12.4%

Dec 29 9:48 AM EST

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To: the dodger who wrote (120)	2/28/2000 6:45:00 AM
From: Dorine Essey	Read Replies (1) of 141

Hi, Any idea what time the finacials will be out today? Dorine JERUSALEM, Feb 27 (Reuters) - Israel's Formula Systems Ltd FORTY.O said on Sunday it will post a 125 million shekel ($30.9 million) capital gain from Magic Software Enterprises Ltd's MGIC.O secondary stock offering last week. After the Nasdaq offering, Formula owns a 48 percent stake in Magic, while Mashov Computers MSHV.TA owns a 30 percent stake. Mashov reported a 90 million shekel capital gain. Magic, which sold 3.5 million shares, raised $100 million from the IPO, with $12.5 million coming from the 500,000 shares sold by Formula. Magic closed down nearly $1-1/2 at $25-1/8 on Friday. ($1=4.04 shekels) ($1=4.043 Israeli Shekel) REUTERS Rtr 04:24 02-27-00

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