Jaglom the big winner from planned Objet Nasdaq IPO

The relatively unknown Swiss-based Israeli owns 27.6% of the 3D printing solutions developer.

3D printing solutions developer Objet Ltd. has filed a prospectus with the US Securities and Exchange Commission (SEC) to raise $75 million in a Nasdaq IPO. The prospectus of the Rehovot based company does not disclose the company value. Objet may yet forego the IPO, if there is a good offer on the table to buy the company.

The biggest shareholder in the Rehovot-based company, which was founded in 1998, is Elchanan Jaglom who owns 27.6% through his company Samson Capital. Jaglom is a 70 year-old Israeli who lives in Switzerland and his family is believed to be worth hundreds of millions of dollars. If Objet holds a public offering or is sold then Jaglom's share is worth at least $100 million.

The Jaglom family is one of Israel's most affluent. The name is relatively unfamiliar but Elchanan was very active in Israel's capital market until the early 1990s and the family was the controlling shareholder in the real estate company Ocif Investments and Development Ltd. (TASE: OCIF) before it was sold to the Aviv family. Jaglom's mother Raya served as chairperson of World WIZO for many years and Elchanan himself serves on the board of governors of Tel Aviv Museum of Art and Ben Gurion University of the Negev.

Published by Globes, Israel business news - www.globes-online.com - on March 25, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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