Israeli conglomerate Delek Group raised 140 million shekels ($40.47 million) after underwriters of a secondary share offering exercised an option to purchase 1.38 million shares in subsidiary Delek US Holdings. Delek Group's stake in Delek US will drop to 7.5 percent, the company said on Sunday.On Thursday Delek Group said its stake in Delek US fell to 9.8 percent after it sold 9.2 million shares in a secondary offering.Delek US has assets in petroleum refining, logistics and convenience store retailing. Delek Group, which owns stakes in the giant Tamar and Leviathan natural gas fields off Israel's Mediterranean coast, has been seeking to divest other holdings to raise funds.($1 = 3.4595 Israeli Shekels)
Delek US Holdings, Inc. (Delek) is an integrated energy business focused on petroleum refining, the wholesale distribution of refined products and convenience store retailing. Shares of DK traded higher by 0.73% or $0.22/share to $30.42. In the past year, the shares have traded as low as $19.83 and as high as $38.67. On average, 1033170 shares of DK exchange hands on a given day and today's volume is recorded at 1974180.
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