Dr. Kobi Richter and his wife, Judith, have bought an additional 1.2% of Orbotech Ltd. (Nasdaq: ORBK) in a coordinated deal on the market. The purchase boosts their stake to 8.9% of the company. The purchase comes two weeks after they bought 3.5% of Orbotech for $12 million.
On Monday, the Richters bought 418,500 shares for $4.2 million, at a price similar to the price in the previous purchase of $10 per share.
The previous purchase was off-floor and made at an 11% premium on Orbotech's price at the time. The share has subsequently risen, and Monday's purchase was made at about the market price.
Orbotech's share has been rising steadily, irrespective of the Richter's purchases. It closed yesterday at $10.57. The company is due to publish its financial report for the second quarter on August 3.
Published by Globes [online], Israel business news - www.globes-online.com - on July 22, 2009
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