Israeli small unmanned aerial vehicle (UAV) manufacturer Aeronautics Ltd is currently in the process of listing itself on the Tel Aviv Stock Exchange, following the start of an initial public offering (IPO) on 14 June.
The first phase of the listing, which was open only to institutional investors, had shares in the business sold for ILS18.50 (USD5.3), raising ILS510 million and implying a company value of over ILS1 billion.
The IPO, which was first announced in late February, is expected to have the company sell almost half of its current shares, which are mostly held by Israeli investment funds and private equity companies.
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