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Management of Effi Capital Nadlan opened trading this morning in celebration of its IPO on TASE. Effi Capital is the first real estate company to join TASE since July 2022.
Established in 2007 by controlling shareholder, Chairman and CEO, Effi Shkedi, the company develops residential construction projects nationwide, including urban renewal projects, affordable housing ("Buyer's Price”) projects, commercial projects, offices and logistic centers. To date, the company has already delivered 3,300 housing units, with revenue of NIS 340 million in the first nine months of 2023.
The company, which issued its first bonds on TASE in October 2021, followed by two more bond series, completed an IPO of its shares on TASE.
The company raised NIS 92 million with shares and warrants and has generated a yield of 18% since the IPO.
Effi Shkedi, CEO, Chairman and controlling shareholder of Effi Capital Nadlan, said: "The share IPO is a significant milestone for us. As a TASE-listed company, we can grow our equity, reduce leveraging and diversify our financing sources in order to improve the company's financial flexibility. Our long-term strategy prioritizes the company's business development, primarily through land acquisitions, advancement of existing projects and initiation of real estate development collaborations. I would like to thank the institutional investors for their unwavering vote of confidence and for joining us in our journey towards development and growth.”
Anat Geron, Head of the IPO Unit at TASE, said: "We welcome Effi Capital Nadlan, the second IPO on TASE since the beginning of 2024. The Real Estate Sector is the second largest on TASE after the High-Tech Sector, consisting of 101 real estate companies with a total market cap of NIS 204 billion. We hope to see more real estate companies join TASE to help build and develop Israel, especially in the aftermath of the October 7 war and its devastating impact on large areas across Israel. We wish the company's management and employees continued growth, development and construction, for the benefit of the investors and the Israeli economy."
In the picture from right to left: Roy Segal, CEO of Effi Capital Construction; Einav Cohen, VP Marketing and Sales at Effi Capital Nadlan; Ido Kinaer, VP Engineering at Effi Capital Nadlan; Alon Haver, Deputy CEO and CFO at Effi Capital Nadlan; Effi Shkedi, CEO and Chairman, Effi Capital Nadlan, and his wife, Ruthie Shkedi; Anat Geron, Head of the IPO Unit at TASE, and Hani Shitrit Bach, EVP and Head of Listings at TASE.
Photography credit: Kobi Wolf. Authorized for use for no consideration.
