Denya Building files to raise NIS 800m in TASE IPO
The Israeli construction company will make the offering at a company valuation of NIS 2-2.5 billion.
Israeli construction and infrastructures company Denya Group Building Israel (formerly Danya Cebus) has filed a supplementary prospectus ahead of an initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE), which will combine new shares and an offer to sale by controlling shareholder Africa-Israel.
Market sources believe that Denya will seek to raise between NIS 600 million and NIS 800 million at a company valuation of between NIS 2 billion and NIS 2.5 billion. The IPO will be led by Leader Underwriters and Discount Capital Underwriters.