This morning (June 15, 2026), BST Group’s management, controlled by the Tanos family, opened trading on the Tel Aviv Stock Exchange, marking the company’s listing and completion of its initial public offering.
BST Group is a family-owned company established in 1972. The Group’s core activity is the execution of contractor-based construction projects, both for its own developments and for third parties, a field in which it has accumulated extensive experience and currently manages dozens of projects. In addition, the Group is engaged in real estate development and income-generating real estate activities abroad.
In recent years, the Group has continued to expand through strategic partnerships with institutional entities and leading capital market companies, including The Phoenix Group and Menora Group.
The Group’s total revenues for 2025 amounted to approximately NIS 1.9 billion.
BST Group raised approximately NIS 400 million for about 13.75% of its shares at a company valuation of approximately NIS 2.6 billion and began trading at a market capitalization of approximately NIS 3 billion, placing the offering among the largest IPOs of the year.
The offering attracted demand of close to NIS 1 billion, approximately 2.5 times the offering size, with participation from most of Israel’s leading insurance companies, reflecting exceptional confidence from the institutional market in the Group.
The offering was led by Barak Capital Underwriters, alongside co-underwriters The Phoenix Group and Leader Underwriting. The law firm Shimonov & Co. advised the company throughout the IPO process.
The construction sub-sector on the Exchange currently includes 60 companies with a total market capitalization of approximately NIS 110 billion. Currently, 10 ETFs and index-tracking funds follow the TA-Real Estate Index, with holdings totaling approximately NIS 1.6 billion, as well as 9 funds tracking the TA-Construction Index with holdings totaling close to NIS 1 billion.
Rafi Bisker, Chairman of BST Group, said: “We thank all the institutions and investors who participated in the offering for their confidence in BST Group. Opening trading on the Tel Aviv Stock Exchange marks a significant milestone for us, but primarily the starting point for a new phase of growth and development. We will continue to act in accordance with the Group’s business strategy, strengthen our core activities, create value for our customers, partners, and shareholders, and responsibly pursue new opportunities to support BST’s continued expansion and success.”
Elias Tanos, CEO and co-owner of BST Group, said: “The first day of trading on the Tel Aviv Stock Exchange is a significant and exciting moment for BST Group and for the Tanos family. We would like to thank all the investors and institutions who took part in the process and expressed confidence in the Group, as well as our employees, managers, business partners, and clients who have accompanied us over the years and have been integral to our journey. Since its establishment, BST has grown and expanded into diverse areas of activity and markets בישראל and abroad, while maintaining the core values upon which it was founded—excellence, integrity, hard work, responsibility, and commitment to people. These values, instilled by my late father from the very beginning, continue to guide us today. Becoming a public company is not a finishing point, but rather the beginning of a new chapter. We will continue to act with responsibility and determination to strengthen our core business, develop new growth engines, expand into additional markets, and create long-term value for our clients, employees, and shareholders. Our journey continues to evolve, markets are changing, and our fields of activity are expanding—but the values upon which BST was built will continue to guide us in this new chapter. With commitment to these values, we will continue to build, initiate, grow, and create value for all who choose to accompany us on this path in the years ahead.”
Tom Elhadif, Head of Market Development at the Economics Department at TASE, said: “The strength of BST Group derives from the combination of its family roots and values, together with a clear and consistent strategy and its ability to create partnerships with leading players in the economy. These elements have enabled it to grow and establish itself as one of the key players in the sector. The IPO represents another natural step in the development journey of a family company striving to continue growing, innovating, and making an impact in both the local and international markets.”
In the photo: Rafi Bisker, Chairman of BST Group; Elias Tanos, CEO and co-owner of BST Group; Ala Tanos, CEO of BST Canada and co-owner of BST Group; Wasim Tanos, VP Assets and co-owner of BST Group; Tom Elhadif, Head of Market Development at the Economics Department at TASE; and BST Group management.
Photo credit: Vered Farkash. Approved for use free of charge.
