Ampal's Investee Completes IPO.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 2, 2000 Ampal-American Israel Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMPL (language) AMPL - Along with mpl, the intrinsic parallel languages for MasPar's computers. AMPL and mpl are parallel variants of C. Ampl is actually now a gcc port. ["AMPL: Design, Implementation and Evaluation of a Multiprocessing Language", R. Dannenberg, CMU 1981]. ) announced today that its investee, Floware Wireless Systems, Ltd. (NASDAQ:FLRE FLRE Federal Lands Recreation Enhancement (Canadian act) ), completed an initial public offering of 4.5 million shares on the NASDAQ and raised $58.5 million (at $13 per share). Ampal holds 501,300 shares of Floware, which were acquired for approximately $2 million. Floware develops point-to-multipoint wireless access systems that enable new telecom operators to deliver the most competitive broadband data and voice services to their business subscribers. Floware's largest shareholder is Siemens AG Siemens AG German electrical-equipment manufacturer. The first Siemens company, Siemens & Halske, was founded in Berlin in 1847 to build telegraph installations. and the company's customers include Telefonica Argentina SA and United Pan Europe Communications. 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. This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide website at www.kcsa.com. |
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