Leon Koffler mulls IPO for Super-Pharm

Leon Koffler  photo: PR

The company says that it is considering all of its business options, including an IPO.

Super-Pharm controlling shareholder Leon Koffler is considering holding an IPO for the company on the Tel Aviv Stock Exchange (TASE). The company's board of directors will decide on the matter by the end of the week.

As far as is known, marketing an IPO to investors has not yet begun, nor has a company valuation for an offering been set. The company said, "Super-Pharm is considering all of its business options, including an IPO."

18 months ago, Koffler negotiated with international fund CVC to sell 40% of Super-Pharm at a NIS 2 billion company value, but the deal did not go through.

Koffler owns 75% of the shares in Super-Pharm, Bank Leumi (TASE: LUMI) owns 15%, and Israel Discount Bank (TASE: DSCT) 10%.

The Super-Pharm chain of pharmacies, managed by CEO Nitzan Lavi, operates 243 branches and has 8,000 employees. Late last year, Lavi told the media that the chain's 2018 sales turnover would reach NIS 5.8 billion. In addition to activity in Israel, Super-Pharm also has a successful business in Poland, but its venture into China was unsuccessful.

Published by Globes, Israel business news - en.globes.co.il - on February 12, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Leon Koffler  photo: PR
Leon Koffler photo: PR
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