Objet Geometries bids for NASDAQ IPO - Israel Business, Ynetnews
 
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Road show for investors in US scheduled for December 5
Road show for investors in US scheduled for December 5 
 
 

Objet Geometries bids for NASDAQ IPO

Israeli 3D printer company hopes to ride prevalent offering wave on Wall Street, raise about $120 million on $500 million market cap. If successful, it will be largest IPO by Israeli company in US in past few years

Golan Hazani, Calcalist
Published: 11.21.11, 14:56 / Israel Business

Last week, no less than eight companies completed their Wall Street IPO – the largest number of initial offerings in one week since 2010, with the week's pickings totaling $1.5 billion.

 

Israeli 3D printer company Objet Geometries is jumping on the bandwagon and will try to raise over $120 million on a $500 million market cap in an IPO slated for next month, Calcalist has learned.

 

J. P. Morgan and Deutsche Bank will lead the offering, which is expected to be the largest any Israel company held in Wall Street in the past five years, if successful.

 

The company has already scheduled a road show for investors in the US for December 5. The offering will be held if market conditions are favorable, particularly at such precarious times.

 

Last February, it was reported that Objet planned to attempt a $100 million offering on a $400 million market cap in 2011.

 

The offering was not performed due to the weak market conditions at the time and after the company realized that it would not be able to conduct the offering on the market cap it wanted; however, the company's projected results for 2011 – $160-$180 million – changed the picture.

 

The company's main investors include the TDA investment group and Glenrock. The company reportedly swung to profitability over the past two years.

 

Among the company's shareholders was Scitex of the Discount Investment Group, which sold its stake (22.9%) for just $3 million to the other shareholders.

 

The company is headed by David Reis and its key investor is Elan Jaglom, who operates out of Switzerland and holds over 30% of Object shares. Jaglom is also the company chairman and is expected to take a profit of over dozens of millions of dollars in the offering.

 

Click here to read this report in Hebrew

 

 

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