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Fidelity again an interested party in Aladdin

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midastouch017   Monday, 04/17/06 01:32:40 AM
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Fidelity again an interested party in Aladdin

16.4.06 | 09:50 By Omri Cohen

Aladdin Knowledge Systems (TASE, Nasdaq: ALDN) can boast a prestigious new interested party: Fidelity, the American mutual funds giant.

Fidelity last week reported to the U.S. Securities and Exchange Commission that it owns 1.8 million shares in Aladdin, which makes hardware-software data security systems. Its shareholding is equivalent to 12.4% of the Israeli company's share capital.

Market sources called it a show of faith in the company, which is run by Yanki Margalit.

Fidelity is not mentioned as an interested party in Aladdin's expanded financial statement for the year 2004. At the time it held less than 5% of the company, if anything at all. Market sources surmise that the mutual funds company therefore built up its shareholding in recent months, which could help explain why Aladdin stock has jumped 30% from the start of 2006.

It isn't Fidelity's first fling with Aladdin. In February 2000, it reported reducing its Aladdin shareholding from 5.5% to 3.9%.

http://www.haaretz.com/hasen/spages/706232.html

Dubi


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