CEO Confirms Plan to Float Israel’s Largest Aerospace and Defense Company
According to the plan currently advanced, Israel will list 25% of the securities of state-owned Israel Aerospace Industries according to a post-IPO valuation of $4 billion
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IAI is Israel’s largest aerospace and defense company and develops defense systems including anti-missile, aerial technologies, and cyber-intelligence systems.
IAI autonomous system. Photo: IAI "The activity in recent months is known and is not being done in the dark, it is part of a process to raise capital for the company," Sheffer said in the email reviewed by Calcalist.
According to the plan currently advanced, Israel will list 25% of the company's securities according to a post-IPO valuation of $4 billion. The IPO process will contain fail-safes and restrictions, such as no shareholder will be able to acquire a stake larger than 4.99%, and only the state of Israel will have the right to appoint board members.
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To complete the IPO successfully, IAI will need to reach an agreement with its employees, who are demanding a cut of the profits of the IPO from both IAI and the state.
