The The Israel Securities Authority has asked Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) for clarifications regarding media reports in which the company’s controlling shareholder and chairman Lev Leviev predicted that it would double in value in 2007.
Leviev, who is currently attending the World Economic Forum in Davos, Switzerland, was quoted as saying that a value of $7 billion, double Africa-Israel’s current market cap, by the end of 2007 would be an appropriate target for the company. Africa-Israel soared 7% in heavy trading on the Tel Aviv Stock Exchange (TASE) today following Leviev’s comments, following which the Securities Authority asked the company to publish a clarification of the remarks by tomorrow morning.
