Cellcom Israel has filed this week to debut its shares in the US via an IPO under the NYSE ticker "CEL." Cellcom Israel is one of four providers of cellular phone service in Israel. Its shareholders will offer nearly 19 million shares at a range of $16.00 to $18.00 per ADS.  This will give the company an implied market cap of roughly $1.7 billion.

Goldman Sachs, Citigroup and Deutsche Bank will serve as the joint book running managers; although timing is still open.

Jon C. Ogg
January 18, 2007