ICL (ICL) announced the pricing of its initial public offering on the NYSE. 60,158,143 ICL ordinary shares currently owned by the company's majority shareholder, Israel Corporation, or ILCO, are being sold in a secondary offering at a price of $7.00 per share. In the offering, 36,207,128 shares are being sold directly by ILCO. ICL will not receive any proceeds from the offering. The shares are expected to begin trading on the NYSE on September 24, 2014 under the ticker, ICL.
ICL is a global manufacturer of products based on specialty minerals that fulfill humanity's essential needs primarily in three markets: agriculture, food and engineered materials. ICL is a public company whose shares are traded on the Tel Aviv Stock Exchange. Following the offering, 47.2% of ICL's shares will be held by Israel Corporation Ltd, 13.9% by PotashCorp and the remainder by the public.
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