JERUSALEM Feb 21 Israeli drone maker
Aeronautics is planning an initial public offering on the Tel
Aviv Stock Exchange that will value the company at around 1
billion shekels ($270 million), financial news website TheMarker
reported on Tuesday.
Officials at Aeronautics and the Tel Aviv Stock Exchange
were not available to comment on the report in TheMarker, one of
Israel's leading financial news outlets. Officials at Viola
Group, a private equity group invested in Aeronautics, were also
unreachable for comment.
Aeronautics develops, manufactures and markets unmanned
According to TheMarker, current shareholder including Viola
plan to offer 40-50 percent of the company's equity in addition
to issuing more shares to raise funds for its operations.
($1 = 3.7062 shekels)
(Reporting by Ari Rabinovitch)