Clean energy co Phinergy raises NIS 200m in TASE IPO
The IPO was at a pre-money valuation of NIS 780 million.
Clean energy company Phinergy has announced the successful completion of an IPO on the Tel-Aviv Stock Exchange. The company raised NIS 200 million ($60 million) in the IPO that was two-times oversubscribed, at a NIS 780 million ($237 million) pre-money valuation. The company is expected to start listing in the course of next week under the ticker symbol PNRG.
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Phinergy was founded by Aviv Tzidon (chairman) and headed by CEO David Mayer. The offering was led by Leader Underwriters, Leumi Partners and Menora Mivtachim Underwriters & Management.