News

3 More Israeli Cos Set For Australian IPOs

Share |
Tuesday, May 2nd, 2017

Since the first pioneer Israeli company was floated in Australia – Audio Pixels, which raised A$ 32.5 million in 2011 at an after money valuation of A$ 158 million, more than 10 Israeli companies have joined it, and several more are expected to swell the ranks by the end of 2017.

As reported in Globes:

Up to now, most of the Israeli companies have entered the Australian capital market by the back door, that is, via a reverse merger into an existing stock market shell company, rather than via a regular IPO. The most recent flotation of an Israeli company in Australia, however, that of eSense-Lab, which is in the medical cannabis business, took place in February this year in the format of an IPO, and three more Israeli companies are currently in line to raise capital in Australia.

The Australian Stock Exchange (ASX), located in Sydney, is ranked tenth in size in the world, with a large number of stocks and high liquidity. In terms of the market caps of the companies traded on it, the ASX is ninth in the world, and companies making IPOs raised A$ 29 billion in the period 2014-2016.

The ASX invests effort in encouraging Israeli companies to make offerings and become listed on it, and another delegation of ASX officials was in Israel in April after a similar delegation visited just two months ago.

Three more Israeli companies are set to list on the ASX: Mobilicom, which sets up essential corporate communications networks; G Medical, which develops software solutions for medical apps on smartphones and medical devices (e-Health and m-Health); and CyberGym, which provides training and instruction for employees in protecting an enterprise’s critical systems, mainly at infrastructure, financial, and energy companies.

Mobilicom raised A$7.5 million at a company value of A$43.7 million, after money, and trading in the company share is slated to begin on Monday at A$0.20 per share. G Medical is about to raise A$10 million as a company value of A$45-50 million, while CyberGym will try to raise A$4-7 million at a company value of tens of millions of Australian dollars.

Read more here.