Bethel Finance: Dankner's Discount Investment relegated from Tel Aviv 25 Index

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Bethel Fiannce news:
Nochi Dankner will be relegated from the Tel Aviv 25 Index at its next update on January 1, 2012. IDB Holding Corp. Ltd. (TASE:IDBH) holding company Discount Investment Corporation (TASE: DISI) will leave the TASE's benchmark index, after a 60% fall in its share price in 2011.

Mellanox Technologies Ltd. (Nasdaq:MLNX; TASE:MLNX), founded and run by Eyal Waldman, and Patrick Drahi-controlled HOT Telecommunication Systems Ltd. (TASE: HOT) will join the Tel Aviv 25 Index. One of the two companies is joining the index to replace Makhteshim Agan Industries Ltd., which was delisted in October.

The gas exploration partnerships will join the Tel Aviv 100 Index: Modiin Energy LP (TASE:MDIN.L), Israel Land Development Company Energy Ltd. (TASE: IE), and Givot Olam Oil Exploration LP (TASE:GIVO.L). Shemen Oil and Gas Resources Ltd. (TASE: SMOG), which held its IPO last week, might also join the index. If it does so, the index will have ten oil and gas exploration partnerships, three of which - Isramco Ltd. (Nasdaq: ISRL; TASE: ISRA.L) and Delek Group Ltd. (TASE: DLEKG) units Avner Oil and Gas LP (TASE: AVNR.L) and Delek Drilling LP (TASE: DEDR.L) - are also on the Tel Aviv 25 Index.

Magic Software Enterprises Ltd. (Nasdaq: MGIC; TASE: MGIC) and its parent company Formula Systems Ltd. (Nasdaq: FORTY; TASE: FORT) will also join the Tel Aviv 75 Index.

Several companies are being relegated from the Tel Aviv 100 Index because they no longer meet the 25% public ownership threshold, rather than because of a fall in their market cap. They include Discount Investment subsidiary Koor Industries Ltd. (TASE:KOR), Delek Group subsidiary Delek Israel Fuel Corporation Ltd. (TASE: DLKIS), and Scailex Corporation (TASE: SCIX; Pink Sheets:SCIXF), through which Ilan Ben-Dov controls Partner Communications Ltd. (Nasdaq: PTNR; TASE: PTNR). Only Mordechay Zisser-controlled real estate company Elbit Imaging Ltd. (Nasdaq: EMITF; TASE: EMIT) is being relegated to the Midcap 50 Index because of a 45% drop in its market cap.