Discount Investment Corporation Ltd., or DIC, is a holding company based in Israel. The company is listed on the Tel Aviv Stock Exchange and is a constituent of the TA-125 Index. The company is controlled by IDB Development Company, which itself is held by IDB Holding Corporation Ltd. .[1]
DIC also holds stakes in a number of companies, including Elron Electronic Industries, Cellcom Israel, and Israir.
History
Discount Investment Corporation was founded in 1961 as an investment vehicle of the Recanati family, which at the time were owners of the Israel Discount Bank, itself founded by the family in the 1930s after emigrating from Greece during the British Mandate of Palestine. The family business were controlled by umbrella company IDB Holding Corporation (IDB standing for Israel Discount Bank) founded in 1969.
In 2002 the company sold its holdings to a group of investors headed by Nochi Dankner.[2]