The company plans to raise NIS 32 million altogether, plus an additional NIS 64 million in the exercise of future options.
Online dictionary producer Babylon Ltd. will hold the public tender in its Tel Aviv Stock Exchange (TASE) IPO on Wednesday, after completing the institutional tender last week. The company plans to raise NIS 32 million altogether, plus an additional NIS 64 million in the exercise of future options. According to the company’s prospectus, the company raised NIS 23 million in the institutional tender, and will try to raise an additional NIS 9 million in the public tender.
Discount Underwiting & Issuing Ltd., Excellence Nessuah Underwriting (1993) Ltd., and Migdal Capital Markets Ltd. are the underwriters.
After the IPO, Reed Elsevier Ventures will own 15.5% of the company, Formula Vision Technologies Ltd. (TASE: FVT) - 14%, and Monitin Publishers - 11%. Bablyon CEO is Dov Peer and it has 75 employees.
Published by Globes [online], Israel business news - www.globes.co.il - on February 11, 2007
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