Mediterranean Towers had sought to raise NIS 250 million.
On Wednesday, Mediterranean Towers Ltd. raised NIS 200 million in its IPO on the Tel Aviv Stock Exchange (TASE), half in an offer to sell by its controlling shareholder, at a company value of NIS 620 million, after money. It also raised NIS 200 million in bonds.
Mediterranean Towers had sought to raise NIS 250 million, one third in an offer to sell by shareholders, at a company value of NIS 510 million, before money. The company had NIS 448 million in shareholders' equity at the end of September 2013.
The IPO was held on the same day that Skyline International Development Inc., the Canadian development arm of Mishorim Development Ltd. (TASE:MSHR) and Israel Land Development Company (TASE: ILDC) had only a partial success in the institutional tender of its IPO on the TASE.
Published by Globes [online], Israel business news - www.globes-online.com - on February 27, 2014
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