Ace DIY chain completes NIS 150m IPO

ACE - Auto Depot

Most of the offering was an offer for sale by Kedma Capital.

The initial public offering by do-it-yourself store chain Ace totaled NIS 150 million, most of it in the form of an offer for sale by private equity firm Kedma Capital, at a valuation of NIS 400 million.

Kedma Capital, which held 98% of the company, is selling 25% of its shares for NIS 100 million. Financial institutions are investing NIS 50 million in Ace in return for an allocation of shares. The institutions will also have an option to invest a further NIS 60 million at a valuation of NIS 540 million before money.

Published by Globes, Israel business news - en.globes.co.il - on January 11, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

ACE - Auto Depot
ACE - Auto Depot
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