The management of Aeronautics Ltd. opened the trading day on the Tel Aviv Stock Exchange (TASE) on the occasion of the company's IPO.
Aeronautics LTD, an Israel-based defense solution provider, is a world leading developer and manufacturer of Unmanned Aerial Systems focusing on the Mini, Tactical, and MALE UAS categories. Since its establishment in 1997, the Company's products have been delivered and successfully deployed by over 70 defense, military and homeland security forces on five continents. Its revenues in 2016 reached approx. $137 million with Order backlog of 155$ million.
Starting September 10, the company will join TASE's leading indices: TA-90 and TA-125, as well as the technology indices (TA-Tech Elite, TA-Global BlueTech, and TA-Technology).
Eitan Ben Eliyahu, Aeronautics Chairman: "According to TASE data, this has been the largest TASE IPO in the past 20 years. This has also been the largest IPO for an active, hi-tech, exporting company in the defense industry. Aeronautics enjoys unique technologies, developed by brilliant engineers. Our products provide perfect solutions in the battlefield. It is a known fact that between one third and one half of the fighter aircraft are replaced with UAV's, while the use of attack helicopters is down to a minimum".
Ittai Ben Zeev, TASE CEO: "I congratulate the management of Aeronautics Ltd. on its listing on TASE. The company's history has all the ingredients to make a good movie. Established 20 years ago, Aeronautics develops products that fuel the imagination, specializing in a very unique field of hi-tech, producing products related to the realm of intelligence. The company has undergone an impressive transformation process due to a strong managerial board and excellent management skills. Its market cap is approx. $1 billion, making it the largest IPO since 2010. What's more important is that this has been the largest hi-tech IPO in the history of TASE. The capital market has also taken a step forward, and without a doubt the underwriters, headed by Leumi Partners, have done an excellent job, combining high-level professionalism, resourcefulness and creativity. I wish the company much success, and hope that more Israeli hi-tech companies traded abroad realize the advantages in dual-listing".
Photo (free-of-charge): Eitan Ben Eliyahu, Aeronautics Ltd. Chairman; Amos Matan, Aeronautics Ltd. CEO; Sami Totah, Viola Private Equity; Shai Alon, KCPS Ltd.; Dani Shirazi, Bereshit fund; Ittai Ben Zeev, TASE CEO; and Amnon Neubach, TASE Chairman of the Board.
Photo (free-of-charge): Guy Assayag.