Magic Mulls Secondary Nasdaq Offering

JERUSALEM, Dec 26 (Reuters) - Israel's Magic Software Enterprises Ltd (NasdaqNM:MGIC - news) is considering raising about $100 million through a secondary share offering on Nasdaq or a private placement, its parent company said on Sunday.

"At the moment we are considering making a secondary offering or private offering in order to meet the company's goals for next year," Formula Systems ((NasdaqNM:FORTY - news) CEO Dan Goldstein told Reuters.

The company will make a decision within the next 10 days, he said.

The Magic offering would be made in the first quarter of 2000. The proceeds would be used to acquire another six or seven companies, in addition to the six companies the company has already bought, Goldstein said.

Formula controls 60 percent of Magic