The company plans to raise a gross $79.2-90.6 million at $14-16 per share, at a company value of $485 million.
The Nasdaq IPO of Caesarstone Bat Yam Ltd. is set for Wednesday, March 21. The company plans to raise a gross $79.2-90.6 million at $14-16 per share, at a company value of $485 million.
In support of an offering at the higher end of the price range, or even above it, is that Caesarstone is defined as a growth company, due to the increasing popularity of quartz countertops, and which is reflected in the company's financial results. In addition, the offering reflects a respectable p/e ratio of 16 on its net profit of $29.3 million in 2011.
Published by Globes [online], Israel business news - www.globes-online.com - on March 18, 2012
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