One of the oldest companies in the Israeli economy is on its way to the Tel Aviv Stock Exchange (TASE). Pharmaceutical company Rafa Laboratories, controlled by Israeli private equity firm FIMI Opportunity Funds, is moving forward an initial public offering (IPO) of its shares on the TASE, at an estimated company valuation of NIS 2-2.4 billion.
As part of the move, which is being led by Barak-Leumi and Leader underwriters, the company's owners are seeking to sell some of their shares to the public, by way of an offer to sell, without raising capital by Rafa itself. This involves the sale of 30%-50% of the company for an amount of up to 1.1 billion shekels (assuming the valuation will be NIS 2.2 billion).
The company's controlling shareholder (88%) is FIMI, managed by Ishay Davidi, for whom the TASE has become a well-oiled machine for exits in recent years. The fund's share of the proceeds from the offering may exceed NIS 1 billion. Rafa's remaining shares (12%) are held by the Levin family, heirs of the company's founder, Dr. Baruch (Boris) Levin.
Rafa is a pharmaceutical company, founded in Israel more than 80 years ago, which manufactures, markets and distributes Rx and OTC medicines.
Published by Globes, Israel business news - en.globes.co.il - on May 20, 2026.
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