Ratio Petroleum management celebrates their IPO this morning in the opening bell ceremony. Ratio Petroleum was founded in May 2016 and is engaged in oil and gas exploration overseas.
The Company's General Partner is jointly controlled by the Rotlevy and Landau families, and is traded on TASE. The Company raised approximately NIS 61 million in the offering, and a further NIS 56 million was invested by the General Partner, Ratio Partnership and Delek Group.
Yigal Landau, owner of Ratio Petroleum Company said: "We have successfully floated Ratio Petroleum Company, which is a new company in the economy. You cannot say Ratio Petroleum without saying in the same breath the names behind this achievement: Chairman Ligad Rotlevy and CEO Itay Rafael Tabibzadeh, who immediately joined in the vision, pressed forward with all their might, and brought us to this day. And, of course, the Delek Group and Yitzhak Teshuva who joined in – as we know, you don’t change a winning team. Today we are celebrating a double opening event – this is the first company to make an offering this year on the Tel Aviv Stock Exchange, and is also the first partnership operating abroad to make an offering in Israel".
Eitan Eisenberg, entrepreneur and geologist, Ratio Petroleum Company: "In 2011, immediately after the discovery of Leviathan, I approached the Landau and Rotlevy families and offered them to continue the momentum of success abroad. The families responded positively and thus Ratio Petroleum was established. Our success in obtaining oil rights in Malta, Guyana, Ireland and the Philippines, is a good initial success for the Israeli team for whom many countries are blocked".
Hani Shitrit-Bach, Senior Vice President and Head of the Economics Department, said: "Following the many successes achieved by the oil and gas partnerships in Israel and the great deal of experience gained, and to facilitate oil and gas exploration outside Israel through partnerships, we had to make a new path, setting up instructions and persuading all the relevant parties, but the journey was worth it when you see the results."
Pictured: Ratio Petroleum Company Management with Itay Ben-Zeev, TASE CEO and Hani Shitrit-Bach, Senior Vice President and Head of the Economics Department.
Photographer: Guy Asayag