The management and alignment of GlobalTech, the first digital insurance company on the stock exchange, opened trading last night on the occasion of the listing of the company’s shares on the stock exchange. Vishor is one of the 30 new companies listed on the Tel Aviv Stock Exchange since the beginning of 2021.
Vishor GlobalTech, as a technology and digital insurance group, joins the insurance industry on the stock exchange, which includes 8 companies with a total value of approximately NIS 28 billion. The company operates through its subsidiary Vishur Insurance Company, as a digital insurer in the field of general insurance in Israel. The insurance company operates under an insurer’s license to engage in the general insurance industries it received in 2018 as a multi-channel digital insurance group both in direct distribution and through additional distribution channels.
Vishur currently deals mainly with car insurance and in the summer of 2020 also began to offer a variety of packages for home insurance, including mortgage incidental insurance. Vishur Insurance intends to launch in the second half of 2021 also a variety of new products for the field of businesses that will include, among other things, property insurance coverage (structure and contents), third party liability, employer liability and more.
Vishor issued shares to both institutional investors as part of a non-uniform offer and to the public by way of a uniform offer and raised an amount of NIS 85 million, at a company value of NIS 382 million. The company’s share is expected to enter, at the end of the trading day of May 6, as part of the fast track for new companies to the stock exchange indices: TA-Growth, TA-Finance and TA-Insurance Plus.
Nitzan Tze’ir-Harim CEO and Global Global alignment He said: “We welcome our joining the stock exchange as a natural move to connect to the Israeli capital market and the group’s activities. The offering provides investors with an opportunity to get acquainted with our technological activities and new markets we intend to operate in. We believe our leadership in the field is simple, accessible and competitive. We hope that the Israeli investors will enjoy with us the continued growth of the company. “
Sarit Berman, economist at the IPO unit, She said: “We welcome the joining of Vishor to the Tel Aviv Stock Exchange, and believe that the digital insurance field will gain momentum like many other fields, which the Corona impact has accelerated their development. As a home of the Israeli economy, the stock market is the natural place for Israeli technology companies.” “Allowing companies to develop and grow for the benefit of investors and the entire Israeli economy. We wish the management of Vishor and its employees great success along the way.”