Israeli Business Group Opposes 30% Nasdaq IPOs for Defense Firms, Urges Tel Aviv Listing
Updated
Updated · Ynetnews · Jul 26
Israeli Business Group Opposes 30% Nasdaq IPOs for Defense Firms, Urges Tel Aviv Listing
2 articles · Updated · Ynetnews · Jul 26
Summary
Israel's Association of Publicly Traded Companies urged ministers to float state-owned defense groups on the Tel Aviv Stock Exchange, arguing strategic assets should primarily benefit Israeli investors.
Up to 30% share sales in Israel Aerospace Industries and Rafael could raise billions of dollars and value the companies at tens of billions as defense demand surges.
Officials are studying U.S. IPOs partly because Nasdaq could tap deeper international capital and avoid some of Israel's stricter disclosure rules for classified programs.
IAI and Rafael have seen order backlogs and investor interest climb since Russia's invasion of Ukraine and the October 2023 Israel-Hamas war drove global defense spending higher.