FIMI set to float Inrom on TASE at NIS 1b value

Inrom Industries is a supplier of building and construction materials.

Inrom Industries Ltd., controlled by Ishay Davidi's FIMI Opportunity Funds is planning to raise NIS 400 million in an IPO on the Tel Aviv Stock Exchange (TASE) at a company value of NIS 1 billion. Through its subsidiaries, Inrom supplies building and construction materials.

Inrom's subsidiaries include paint and sealants company Nirlat Colors Ltd., which accounted for 49% of its revenue in 2013; building finishing products manufacturer Carmit - Construction & Building Products Ltd. (which markets under the Mister Fix brand), which accounted for 21% of its revenue in 2013; and construction blocks maker Ytong Industries Ltd.

According to the prospectus published today, Inrom's revenue rose to NIS 809 million in 2013 from NIS 743 million in 2012 and NIS 694 million in 2011, and its net profit rose to NIS 67 million in 2013 from NIS 46-47 million in each of the two preceding years. From 2014, the company will distribute 75% of its profits as dividends, after distributing NIS 160 million in dividends over the past three years.

Published by Globes [online], Israel business news - - on April 27, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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