Management of Luzon Ronson N.V. opened trading this morning, in celebration of its IPO on TASE.
Luzon Ronson, the real estate arm of the Amos Luzon Group, specializes in the development and construction of residential and commercial projects in Israel and Poland, and is a leading real estate developer in Poland, having sold tens of thousands of residential units.
In December 2023, Luzon Ronson became a reporting private company on TASE, after successfully completing an NIS 206 million bond offering. The Company continued to source financing through TASE, and has recently also issued shares to the public, raising NIS 312 million, based on a Company value of NIS 1.23 billion. Thereafter, Luzon Ronson’s share joined TASE’s Construction Subsector.
The shares of 48 construction companies are currently traded on TASE, with a combined market cap of NIS 62 billion, alongside 120 bond series of construction companies with a total market cap of NIS 24 billion.
Amos Luzon, Chairman of Luzon Ronson, said: “The listing of Luzon Ronson’s shares is a significant milestone for us, especially in these times. We have great confidence in the Israeli real estate market and its ability achieve growth despite the challenges that Israel faces, and are dedicated to the continued development and construction of Israel. At the same time, the diversification of Luzon Ronson’s operations, with a strong foothold in Poland over the past 24 years, serves as a force multiplier in executing our long-term growth strategy in both countries. We thank the public institutions who have become our partners, for their vote of confidence, and are committed to continue advancing the Company and optimizing its achievements. We are proud and excited to have the Israeli public take part in Luzon Ronson’s ongoing success and hope for brighter days ahead in Israel and the safe return of all the hostages.”
Boaz Haim, CEO of Luzon Ronson, said: “We are excited to open trading today, as Luzon Ronson becomes a public company at an excellent starting point, backed by a large inventory of land ready for construction, ensuring long-term business expansion, accelerated growth, and financial stability. The IPO and access to the capital market will allow us to diversify the Company’s financing sources and continue expanding its operations in the coming years, realizing its immense potential. Alongside this exciting milestone, we pray for better times here in Israel and for the return of the hostages to their families.”
Hagit Mika, Economist at TASE's Listings Unit, said: “TASE, as home of the Israeli economy, constantly works to increase the investments in the TASE-listed companies and is committed to the upgrading and advancement of the Israeli capital market, in order to enable companies, even in difficult and challenging times such as the current period, to raise equity and debt to finance their growth. Public companies play a key role in ensuring the strength and resilience of the Israeli economy, and we hope to see more construction companies join TASE and thereby contribute to the building, development and recovery of Israel – especially on the day after the war. We wish the Company’s management and employees continued growth, development, and construction, for the benefit of the investors and the Israeli economy as a whole."
In the picture from right to left: Hani Shitrit-Bach, EVP, Head of Listings at TASE; Moran Nachshony and Amir Nahum – Co-CEOs at Value Base Underwriting; Adv. Corinne Bitton; Adv. Israel Shimonov, Partner and Owner of Shimonov & Co. Law Firm; Or Luzon; Amos Luzon, Chairman of the Group; Boaz Haim, CEO of Luzon Ronson; Lia Luzon, Director and Deputy CEO of Luzon Ronson; Asaf Cohen, the Group’s CFO; and Hagit Mika, Economist at TASE’s Listing Unit.
Photography credit: Vered Farkash, authorized for use for no consideration.
