Hi Retta. Yes, RB has been having trouble lately. I haven't been over there too much for that reason.
Looks like too many traders got in AIS to play a pop and bailed when it didn't happen. I'm in for the long haul, so I'm not concerned. Here's the release AIS just put out. If they hung onto their shares, their $1,000,000 investment is worth $16,000,000 right now.
Thursday March 23, 3:41 pm Eastern Time
Company Press Release
Ampal's Investee Completes IPO
NEW YORK--(BUSINESS WIRE)--March 23, 2000--Ampal-American Israel Corporation (AMEX:AIS - news) announced today that its investee, BreezeCOM Ltd., completed an initial public offering of 5 million shares on the NASDAQ and raised $100 million (at $20 per share). Ampal holds approximately 407,000 shares of BreezeCOM which were acquired for $1.1 million.
BreezeCOM is an Israeli company which is a leading developer and manufacturer of wireless access products used worldwide by service providers and private enterprises. Incorporating internally developed core technologies optimized for high-speed data, most products use spread spectrum radio transmission, digital signal processing and wireless packet switching technology. BreezeCOM has three product lines: BreezeACCESS for service providers in licensed and unlicensed frequency bands, BreezeNET for wireless campus networks in unlicensed bands and BreezeLINK for point-to-point T1/E1 connectivity.
Ampal and its subsidiaries primarily acquire interests in businesses located in the State of Israel or that are Israel-related. Ampal's primary investment focus is the growing high-technology and communications sector. Ampal has diversified interests in the following sectors: high-technology and communications, real estate, capital markets, leisure-time, energy distribution, and industry.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward- looking statements. Further information regarding risks and uncertainties are detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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Contact:
Ampal-American Israel Corporation
Company Contact:
Eli S. Goldberg
Vice President-Legal and Secretary
(212) 782-2100
or
Morgen-Walke Associates
Investor Contacts:
Donna Stein/Jill Meleski
(212) 850-5600
or
Morgen-Walke Associates
Press Contact:
Gregory Tiberend
(212) 850-5600 |
