This morning, (21.1.21), the management of Rotem Shani opened trading on the occasion of the company’s listing on the stock exchange.
Rotem Shani is one of the three companies that have joined the stock exchange since the beginning of the year and the first in the field of real estate and will be included in the construction sub-industry in the real estate industry, which includes 37 companies with a total value of NIS 35 billion.
The company, which was established in 1996, works in the planning, initiation and construction of residential and / or commercial construction projects in Israel, and usually focuses on combination and urban renewal transactions in the areas of hard demand in Israel.
During its years of operation, the company has to date completed 13 projects in the center of the country that include many hundreds of housing units.
Today, the company has projects under construction of about 340 housing units, while in 2021 the company expects the start of 7 new residential projects with a total of about 500 housing units. The company’s revenues in the first nine months of 2020 amounted to NIS 126 million.
The company completed an issue of approximately 28% of its share capital in a package with a series of warrants for approximately NIS 46 million, at a company value of approximately NIS 159 million. The shares and the options were offered to the institutional investors by way of a non-uniform offer (Book Building) and to the public by way of a uniform offer.
The company’s share is expected to enter early April 2021 as part of the fast track for new companies, the Tel Aviv Growth Indices, the Tel Aviv Real Estate Index and the Tel Aviv Construction Index.
Avi Torisky and Yehuda Yedidya, directors of Rotem Shani and the controlling shareholders stated that: “This is a festive day for us personally and also for the company we founded 25 years ago. In 2021 the company is changing its face and becoming public and transparent for both the investors and the landowners we work with in the field and are partners in our endeavors. Stakeholders in the company, for expressing their trust in the management and in the company.
In addition, we would like to thank the public investors for the high demand in the public tender. “Torisky and her friends added:” We conclude a journey of almost 25 years in making the company public and look forward to the next 25 years. Already in 2021, we intend to launch a number of the company’s flagship projects that are expected to change the face of the cities in which they will be built with modern and new buildings and rich specifications for tenants. “
Sarit Berman, an economist in the IPO unit at the stock exchange, said that: “We are happy that Rotem Shani has joined the family of listed companies and wish her success. We believe that in 2021, more companies from all sectors of the economy will join the stock market. The Tel Aviv Stock Exchange as the home of the Israeli economy serves as a home for companies For the benefit of the investing public and the entire Israeli economy. “