Infrastructures co Rimon Group completes TASE IPO

Infrastructures and power firm Rimon Group has accomplished an IPO on the Tel Aviv Inventory trade. The corporate raised NIS 250 million at a valuation of NIS 1.25 billion.

The providing was led by Epsilon Underwriting and Points, Poalim IBI Underwriting and points, and Leumi Companions Underwriting. Riomon was suggested by regulation agency Agmon & Co. Rosenberg Hachohen & Co., and by Deloitte Brightman Almagor Zohar and Beta Finance.

Rimon Group was based in 1997. It undertakes particular underground infrastructure tasks, is Israel’s largest non-public water provider, and develops power tasks. Previously two years, the group’s income has grown by greater than 50%, totaling NIS 364.5 million in 2020.

The possession of the corporate is split between Granot, the most important kibbutz company in Israel, through which 44 kibbutzim are companions (56.3%); The Phoenix Holdings Ltd. (TASE: PHOE1;PHOE5) (19.9%); and Yossef (Yossi) Elmalem, the corporate’s founder and its CEO (23.8%).