Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Stock

Israel Aerospace ready for IPO, awaits government approval, CEO says

admin by admin
December 15, 2024
in Stock
0
Israel Aerospace ready for IPO, awaits government approval, CEO says
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

By Steven Scheer

JERUSALEM (Reuters) – State-run Israel Aerospace Industries is ready for an initial public offering in Tel Aviv but awaits the go-ahead from the government, IAI chief executive Boaz Levy said on Sunday.

A ministerial privatisation committee in November 2020 had approved a plan where Israel could sell up to 49% of IAI, the country’s largest defence firm, on the Tel Aviv Stock Exchange, bringing in billions of shekels.

“We are moving towards an IPO,” Levy said at an investor conference at the TASE. “In the past year our business results have continued IAI’s growth trend. We are currently experiencing phenomenal performance.”

He said that according to the government’s decision that has already been approved, there will be an IPO of a minority stake in IAI as soon as the finance and defence ministries “reach a decision that it is time to do it.”

Those ministries declined to comment.

Israeli media have reported that the need to reach understanding with IAI’s union, and weakness in the stock market over the past two years, had put the IPO on hold.

IAI produces defence and civilian products including aircraft, air and missile defence, unmanned aerial systems (UAS), ground robotics, precision-guided weapons, munitions, satellites and systems for space activities.

Over the first nine months of 2024, IAI posted record profit of $416 million, up 74% on the year.

Sales rose 13% to $4.4 billion amid a rise in the country’s multi-front military conflicts, while IAI’s backlog of orders grew by more than $7 billion over the past year to $25 billion at the end of September.

It has 156 million shekels ($43 million) worth of bonds traded on the TASE.

In June, IAI paid a dividend of $155 million to Israel’s government.

($1 = 3.5995 shekels)

This post appeared first on investing.com

Previous Post

Saudi Arabia’s inflation reaches 2% in November

Next Post

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.33%

admin

admin

Next Post
Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.33%

Saudi Arabia stocks lower at close of trade; Tadawul All Share down 0.33%

Trending News

JPM raises Carvana stock target: how high could CVNA go in 2025?

JPM raises Carvana stock target: how high could CVNA go in 2025?

February 1, 2025
Nio stock price analysis: is this fallen angel a buy?

Nio stock price analysis: is this fallen angel a buy?

October 30, 2024
Next joins £1 billion profit club as sales surge; NXT stock jumps 8%

Next joins £1 billion profit club as sales surge; NXT stock jumps 8%

March 27, 2025
Subscribe to Insightful Word


    Recent News

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    June 6, 2025
    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    June 6, 2025
    Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    June 6, 2025
    Starlink reportedly secures key licence in India, moves closer to launching services

    Starlink reportedly secures key licence in India, moves closer to launching services

    June 6, 2025

    Recent News

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll

    June 6, 2025
    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more

    June 6, 2025

    Latest News

    • China’s May export growth seen slowing to 5.0% amid trade uncertainty: Reuters poll
    • FTSE 100 Index shares of 2025: Rolls-Royce, Fresnillo, BAE, and more
    • Asian stocks end mixed: Hang Seng snaps winning streak, Nikkei jumps 0.5%

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.