Management of Eldan Transportation opened trading this morning in celebration of its listing on TASE.
After starting its journey on TASE with a bond issuance, Eldan is the seventh company to join the TASE since the beginning of the year, and the fifth to complete a share IPO this year subsequent to a bond issuance.
Eldan operates across several key sectors, including operational leasing, vehicle rentals, vehicle trading, and investment property. Eldan is a classic Israeli success story: a family-owned company founded in the 1960s by Yosef Dahan as a humble car rental business in Ashkelon with just four vehicles, has blossomed into one of Israel's leading leasing and rental companies, now boasting a fleet of over 30,000 vehicles and dozens of branches nationwide.
Eldan has close to 600 employees, a fleet valued at NIS 2.2 billion as of the end of 2024, and its revenues for 2024 came to 1.6 billion.
Since its initial bond issuance on TASE, Eldan has successfully raised close to NIS 5.8 billion across nine series over the past decade.
Now, the company has taken the next bold step by listing its shares through a secondary offering, following controlling shareholder Yosef Dahan’s sale of 21% of the company's share capital to institutional investors in consideration for NIS 160 million, reflecting a company market cap of NIS 760 million.
Shay Dahan, Chairman of Eldan, said: “We are both excited and proud to complete Eldan's transition into a publicly traded company on the Tel Aviv Stock Exchange. This marks a significant milestone in the company's development and a strategic step forward, affirming Eldan's continued growth as a stable and well-respected leader in the automotive sector. We thank our investors for their trust and are committed to consistently delivering outstanding value to all of our shareholders”.
Ron Klein, EVP, Head of the Economics Department at TASE, said: “TASE offers companies like Eldan unparalleled access to capital, flexible financing, and growth, coupled with vital investor exposure, transparency, and reliability. This model successfully preserves the company's family DNA while simultaneously opening doors to a vast world of opportunities and expansion. Currently, over 100 family-owned companies are traded on TASE. The TA-Family Index, which comprises the shares of 56 family companies, has delivered an impressive return of 130% since its launch in October 2018. For comparison, the TA-125 Index yielded an 88% return over the same period. I extend my best wishes to the family, the company's management, and its employees for continued growth and success. We are here to support you every step of the way, through every phase and toward every new goal”.
In the picture: Shlomo (Momi) Dahan, Co-CEO of Eldan Transportation; Vered Zvili, daughter of Yossi Dahan; Yosef (Yossi) Dahan, Founder of Eldan Transportation; Shay Dahan, Chairman of Eldan Transportation; and Ron Klein, EVP, Head of the Economics Department at TASE.
Photography credit: Alisa Vysokaya, authorized for use for no consideration.
