Investments in the company's 1995-end capital funds stood at NIS 157.2 million. Direct investments amounted to NIS 20.3 million.
Tzipi Livni, director of the Government Corporations Authority, today (Wednesday) asked the Knesset finance committee to approval the privatisation of the Yozma company, by means of the private placement of all the State’s shares in the company with private investors.
This is the first government corporation to be proposed for privatisation since the new government was formed, and since Livni was appointed. Livni’s application specified that company value will be determined in the future, and that the selling price will be fixed in accordance with an outside opinion affirming it to be in fact the market value of the company.
Based on the financial statements accompanying the application to the finance committee, Yozma’s shareholders’ equity at the end of 1995 amounted to NIS 10.9 million, and total balance sheet was NIS 364 million. It was also reported that total investments in the company’s capital funds amounted at the end of 1995 to NIS 157.2 million, while total direct investments came to NIS 20.3 million.
Yozma was founded in 1992, under full State ownership, in order to promote capital investment in industrial companies. To date, Yozma has founded, in partnership with Israeli and foreign concerns, nine venture capital funds, in which it participated to the extent of 40% of the investment. Yozma also invested directly in 14 venture capital funds.