The oversubscribed offering was held at a company valuation of NIS 1.7 billion, after money.
Israel Shipyards raised NIS 340 million today in an Initial Public Offering (IPO) on the Tel Aviv Stock Exchange (TASE) at a company valuation of NIS 1.7 billion, after money. The offering was oversubscribed with demand of NIS 600 million and many of Israel's leading institutional investors took part in the IPO.
Israel Shipyards is controlled by Shlomi Fogel, Sami Katsav, the Schmeltzer family and the Gold Bond Group (TASE: GOLD).
With 450 employees, the company designs, builds, maintains, repairs and provides services for shipping vessels, mainly naval but also in the civilian sector. In addition the company loads and unloads cargo in ports, and is involved in industrial products such as cement.
Published by Globes, Israel business news - en.globes.co.il - on September 2, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020
Tel Aviv Stock Exchange Photo: Eli Yizhar