Toronto — Canada’s Allana Potash Corp. is considering listing its shares on the Tel Aviv Stock Exchange. The possible move follows a decision by Israel Chemicals Ltd. (ICL) to take a 16 percent stake in the company for $23 million, with an option to increase its stake to 37 percent. ICL signed a cooperation agreement with Allana to jointly develop the Danakhil potash mine in northern Ethiopia. Allana currently trades on the Toronto Stock Exchange. According to Israeli financial sources, the proceeds from the listing would be used to develop the mine. The shares would likely be sold to Israeli institutional investors.
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