Israel's Airobotics eyes Tel Aviv IPO, drone deal in Dubai | Reuters
Israeli drone technology firm Airobotics is preparing for an initial public offering (IPO) in Tel Aviv this year and is also close to clinching deals in the United Arab Emirates (UAE), chief executive officer Ran Krauss said on Tuesday.
He declined to give specifics, citing regulatory issues.
“We are starting the process and we’re about to submit the (prospectus) to Tel Aviv Stock Exchange in the coming months,” he told Reuters.
A source close to the matter said Airobotics -- which has raised $120 million in private funding -- plans to raise $50 million through the IPO, based on a pre-float valuation of around $240 million. The source said the company was planning for an April listing after the prospectus is published in two weeks time.
Krauss, speaking virtually from Dubai, said Airobotics was engaged with a number of entities in the city and would “shortly” sign a first contract there for its smart city and other drone technology.
No comments:
Post a Comment