According to the business news website Globes [online], George Soros recently bought shares in an Israeli technology company. Dan Shohet and Shiri Habib-Valdhorn wrote yesterday:

Network application solutions company Radware (Nasdaq: RDWR; TASE: RDWR) has disclosed a new party at interest, despite the dramatic plunge in its share price in recent months. The company notified the US Securities and Exchange Commission (SEC) last night that Soros Fund Management, owned by US financier George Soros, had become a party at interest in the company with a 5.6% holding.

Soros is investing in Radware after its share fell 45.4% since the beginning of the year, with the company posting steeper than expected losses and revenue way below the analysts’ estimates in both the first and second quarters. The company currently has $148.6 million in cash, or $7.50 per share, compared with yesterday’s closing price on Nasdaq of $8.40. Radware does not expect to return to operating profitability until the fourth quarter of the year, but with a share price that is almost the same as its cash per share rate, there are those who consider it a buying opportunity, or at least a defensive stock with little chance of falling further.

Source:

“George Soros builds stake in Israeli technology firm”
Dan Shohet, Shiri Habib-Valdhorn
Globes [online] (Israel), August 13, 2008

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