Israeli iPhone and Apple importer iDigital is expected to publish a prospectus in the coming days for an IPO on the Tel Aviv Stock Exchange (TASE) sources close to the matter have told "Globes." Market sources believe that iDigital's owners, led by the Sky private equity fund, will be looking to raise NIS 200-300 million, at a company valuation of NIS 1 billion.
Such a valuation would be triple the valuation last year when Poalim Capital Markets invested in the company and ten times the valuation when Sky acquired control in iDigital from Pitango four years ago. It woud be triple the valuation of Samsung mobile phones Israeli importer Suny Electronics (TASE: SUNY).
The planned IPO would be led by underwriters Poalim IBI and Discount Capital and would likely include an offer to sell by existing shareholders.
iDigital operates 18 stores around Israel and in addition to iPhones sells iPads and Apple Mac computers. The stores also sell sound systems, speakers, earphones, and other gadgets including drones and smart home ele3ctrical devices. iDigital is not the exclusive importer in Israel of Apple products, which are also sold in other chains.
Published by Globes, Israel business news - en.globes.co.il - on October 25, 2021.
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