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TELEDATA COMMUNICATION TO OFFER ORDINARY SHARES TO PUBLIC

 TELEDATA COMMUNICATION TO OFFER ORDINARY SHARES TO PUBLIC
 HERZLIA, Israel, March 25 /PRNewswire/ -- Teledata Communication Ltd. announced today that it had filed with the Securities and Exchange Commission on Feb. 28, 1992 a registration statement relating to an initial public offering of 3,500,000 ordinary shares (of which 1,000,000 will be sold by certain of its shareholders). The initial public offering price is currently anticipated to be between $8 and $10 per ordinary share. Of the 3,500,000 ordinary shares of Teledata proposed to be issued or included in the public offering, 2,750,000 shares will be offered in the United States, and the remaining 750,000 shares will be offered in a concurrent international offering. The company and certain of the selling shareholders have granted options to the underwriters to purchase up to an additional 525,000 ordinary shares which shares may be purchased solely to cover over-allotments.
 Teledata designs, develops, manufactures, markets and supports products that increase substantially the number of subscribers who may be served by new and existing telecommunications network infrastructures. Teledata's products are used by telephone companies to provide telephone services in the local loop (i.e., the network of transmission links that connect subscribers to a local exchange). The net proceeds to Teledata from the offerings will primarily represent new financing and a small portion of the net proceeds will be used to repay certain indebtedness.
 Lehman Brothers and Oppenheimer & Co., Inc. are co-managing underwriters in the domestic offering. Lehman Brothers International and Oppenheimer & Co., Inc. are co-managing underwriters in the international offering. A prospectus may be obtained from Shearson Lehman Brothers Inc., Prospectus Department, 34 Hubert Street, New York, N.Y. 10013.
 A registration statement relating to the offering has been filed with the Securities and Exchange Commission on Feb. 28, 1992 but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 3/25/92
 /CONTACT: Shmuel Arvatz, chief financial officer of Teledata Communication Ltd., 011-972-3-556230/ CO: Teledata Communication Ltd. ST: IN: TLS SU: OFR


TQ-OS -- NY047 -- 1553 03/25/92 13:54 EST
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Publication:PR Newswire
Date:Mar 25, 1992
Words:417
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