Planetark is the first new issuer in 2021, a continuation of a wave of 27 new issuers in 2020 in which 18 high-tech companies. Plantark joins the 50 traded biomed companies, with a total value of about NIS 77 billion.
Plantark is engaged in research and development in the field of locating genes and biological components to improve traits in diverse plants intended primarily for use in the agricultural industry.
As part of its activities, the company has developed technology based on a unique process for locating genes that positively affect various target traits desired by plants (such as drought resistance and herbicides) and using them to improve target traits.
The company issued units to the public in a uniform offer that included shares and options, for approximately NIS 23 million, at a company value of approximately NIS 60 million.
The company’s share is expected to enter early March 2021 as part of the fast track for new companies, the Tel Aviv Growth, Tel Aviv Global-Blot and Tel Aviv biomed indices.
Dror Shalitin and Eldad Meshulam, co-CEOs at Plantark Bio, said: “Plantark came up as an idea on paper a little over six years ago out of a desire to improve agricultural crops in the world by using genes from different sources in nature and today … and thanks to the combination of revolutionary technology and long-term strategy, we can realize our vision and promote global agriculture. “
Yamit Zohari, an economist in the IPO unit at the stock exchange, said that: “We are pleased that Plantark has chosen the stock exchange as the best investment platform for the general public and believe that the listing of additional Israeli high-tech and biomed companies on the stock exchange will enable a significant financing channel for additional technology and biomed companies. Both for the benefit of the investing public and for the benefit of the entire Israeli economy. “
Pictured top right to left: Dror Shalitin, co-CEO of Planetark Bio; Yamit Zohari, economist at the IPOs unit. Bottom: Eldad Meshulam, co-CEO of Planark Bio. Photo credit: Stock Exchange