Delta Israel successfully completed its first IPO on the Tel Aviv Stock Exchange at a value of approximately NIS 1.3 billion. For 20 percent of Delta Israel’s shares, the company raised NIS 263 million (gross). Under Delta Israel are the Delta and Pix store chains.
Delta Israel’s net profit in 2020 jumped by 95% and amounted to NIS 90 million compared to NIS 46 million in 2019, despite a 2% decrease in sales due to the partial closure of the stores during the closure period in 2020. The company’s revenues in 2020 amounted to NIS 720 million, including a sharp increase in online sales.
Anat Bogner, CEO of Delta Israel, said today: “We are proud of the success of the IPO, and thank the investing public for the expression of trust, which is reflected in a number of leading institutional entities that took part in the IPO. We see making society public an important and essential step. The IPO money will be used to accelerate growth, expand operations and build long-term collaborations. “
Bogner added that “despite the Corona crisis, while most of the chain’s stores were closed, the company was able to reach a peak and growth in all operational parameters, thanks to the sharp growth of online sales and the company’s streamlining and adaptation measures to market changes.”
The IPO was led by Leader IPOs. The law firm that accompanied the offering is Fischer, Bachar, Chen, Wall Orion & Co.
Delta Israel’s Chairman of the Board is Isaac Debach and the CEO is Anat Bogner.