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Home›Acquisition Of Stock›Israeli company iSPAC makes its mark on the Tel Aviv Stock Exchange

Israeli company iSPAC makes its mark on the Tel Aviv Stock Exchange

By Deanna Day
August 22, 2021
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iSPAC on Wednesday announced the completion of its Initial Public Offering (IPO), which refers to the process of offering shares of a private company to the public, making its mark on the Tel Aviv Stock Exchange.

A SPAC (Special Purpose Acquisition Company) has been formed to raise capital by IPO.

iSPAC was founded by Gil Deutsch, Roni Biram, Amir Efrati and Yaron Bloch. They completed a share issue that generated NIS 400 million alongside an application volume of around NIS 575 million.

Part of an electronic board displaying market data is visible on the Tel Aviv Stock Exchange in November. (credit: AMIR COHEN / REUTERS)
The iSPAC draft was approved after a joint process by the founders and the stock exchange and lasted almost a year. The plan will balance the needs of investors and entrepreneurs.

“We are completing a successful first IPO of Israel’s first SPAC, after a long and successful process with members of the Securities Authority and the Stock Exchange,” said Bloch.

“We believe that the outlines that will be formulated will allow us to formulate an attractive deal for investors through a future merger with an Israeli company with significant potential and growth.”

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