January 4, 2019 / 3:41 AM / 12 days ago

Israel's Leumi considers listing U.S. banking unit -report

FILE PHOTO: Pedestrians are reflected in the windows of a branch of Bank Leumi, Israel's second-largest lender, in Tel Aviv, Israel May 30, 2013. REUTERS/Nir Elias/File Photo

JERUSALEM (Reuters) - Israel’s Bank Leumi is considering taking its New York-based subsidiary Leumi USA public at a valuation of more than $1 billion, Israeli financial news website Calcalist reported on Thursday.

Bank Leumi, Israel’s second largest lender, declined to comment on the report.

Leumi USA is a commercial and private bank.

Calcalist said Leumi was waiting for market conditions to improve before moving forward.

Last year two strategic investors — Endicott Management and MSD Capital — took an aggregate 15 percent stake in Leumi USA, valuing the bank at the time at just under $1 billion.

Reporting by Ari Rabinovitch; Editing by Tova Cohen

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below