Nechushtan Metals, of the Nechushtan-Kital group, is also planning a London IPO.
Israeli companies are slowly discovering the London Alternative Investment Market (AIM). Following in the footsteps of DMATek and SEI, who succeeded in raising capital in London, Selector of Petah Tikva is now ready to raise 5.2 million sterling.
Selector, founded in 1992, develops products for the soft drink industry. The company concluded 1995 with sales of $2 million, primarily to the local market (Coca Cola Israel and Pepsi Cola Israel). Net profits were $190,000.
Selector's share issue is planned for late July. The company is valued at $20 million with a p/e ratio of 20, based on projections for 1996. The IPO will offer 19.51 million shares to the public at 66 pence per share.
In May, Selector offered shares in a private placement to institutional investors, raising $700,000.