DBSI sells 60% of its Rada holding for $ 35 million – Global Markets

The investment company DBSI, owned by Yossi Ben Shalom and Barak Dotan, realizes 60% of the holdings in Rada shares. DBSI is the largest shareholder in Rada and now sells about 3.9 million shares to Israeli institutional investors in the amount of $ 35 million. Among the investors are companies such as Migdal and Clal Insurance

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. Upon completion of the transaction, the investment company will hold 2.8 million shares of Rada, which constitute approximately 7% of the issued share capital and debt of the company.

Ben Shalom and Dotan’s DBSI joined Rada in April 2016, so the investment yielded them almost 10 times the investment. Since the beginning of the year, Rada’s share has climbed by about 80% and is now about 10% far from the peak it set last week. Rada is traded at a market capitalization of $ 414 million.

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The Nasdaq-listed Israeli (NYSE: RADA) forecasts its forecast for 2021 and expects revenues of over $ 120 million, improved profitability and continuous quarterly growth. Software-based and multi-tasking tactical water. The main activity of the company is in the field of radar systems for ground maneuvering forces, and electronic systems for military aircraft.

DBSI Chairman Yossi Ben Shalom: “DBSI remains committed to its holdings in Rada. We now intend to stay with the current holding in Rada because we still see significant potential in the company, and I intend to continue to serve as Chairman of the Board. “A significant share in Rada. Like us, they saw the potential for long-term value creation. I believe these investors are the highest quality in Israel with long-term views and a good understanding of Rada’s business and potential.”