| Ticker: BSI | 13 Tfuzot Israel Street | |
| Exchange: New York Stock Exchange | Givataim, Foreign 53583 | |
| Industry: Retail |
| Type of Shares: | American Depositary Receipts | Filing Date: | 6/13/96 | |
| U.S. Shares: | 4,000,000 | Offer Date: | 7/31/96 | |
| Non-U.S. Shares: | 2,000,000 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 6,000,000 | Offer Price: | $11.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.60 | |
| Offering Amount: | $84,000,000 | Selling: | $0.36 | |
| Expenses: | $2,070,000 | Reallowance: | $0.00 | |
| Shares Out After: | 36,000,000 |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Morgan Stanley & Co. Incorporated | Co-manager | (212) 703-4797 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| UBS Securities Inc. | Co-manager | (212) 230-4000 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $941.60 | $297.49 | $207.12 | Assets: | $542.82 |
| Net Income: | $26.61 | $6.26 | $3.64 | Liabilities: | $383.03 |
| EPS: | $0.89 | $0.21 | $0.12 | Equity: | $159.79 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is the largest retail company in Israel. The company through its 142 supermarkets, department stores and specialty stores, sells consumer products that range from food to clothing to housewares. As of March 31, 1996 the Company owned and operated 118 supermarkets under the name Super Co-Op and Hyper Co-Op (two of the most recognized supermarket names in Israel), Super Center, Zil V'Zol and Shefa Mehadrin, and operated 20 full-range Hamashbir Lazarchan department stores (including 18 owned by the Company and two owned by an unaffiliated enterprise and managed by the Company). Hamashbir is the largest department store chain in Israel, with only one other full-range department store chain operating in that country. The Company also operated six smaller Marks & Spencer stores, which carry a line of men's and women's clothing under an exclusive franchise agreement with Marks and Spencer plc of the United Kingdom. In order to complement its full-range department stores and to introduce new retail formats to the Israeli market, the Company is in the process of establishing stand-alone specialty stores and stores-in-stores within its existing department stores. |
| Use of Proceeds |
| Proceeds from the proposed offering will be invested in developing or acquiring new stores, renovating existing stores, for funding acquisitions of or investments in businesses which complement the operations of the company and for general corporate purposes. |
©1996 IPO Data Systems, Inc. - All rights reserved.