Telrad Management Opens Trading on the Occasion of the Company's IPO on TASE

Press Release
08/06/2017
 
​Telrad Networks opened this morning (June 6, 2017) trading in the Tel Aviv Stock Exchange (TASE), celebrating its IPO. 

Telrad CEO, Ran Bukshpan, said today: "The TASE has welcomed today Telrad Networks. There were times when all Israeli households had a phone manufactured by Telrad. It has taken 66 years, and now Telrad, Israel's pioneer in the fields of hi-tech, technology and communications equipment, is finally a member of the TASE. Nowadays, Telrad is still the same company; It is still operating in the communications field, only now it focuses on a new, diversified business activity, which uses cutting-edge technology. The company is once again reaching Israeli households, only this time it's through its shares, which are held by the public. The TASE members, the institutional organizations and the public, are all putting their trust in us, and we are obliged to reward their trust. The capital we have raised will enable us to develop technological products and innovative services, to expand and to grow in the markets we are operating – in Israel and abroad." 

Hani Shitrit-Bach, Senior Vice President, Head of Listing and Economics Department of TASE: "Telrad is the seventh new company to be joining the TASE this year. The new companies have issued shares at a total of approximately NIS 805 million this year. The company issued to the public approximately 24% of its share capital. In addition, the controlling shareholder (Fortissimo Capital Fund), Koor Industries Ltd., and the CEO, made an offer for the sale of approximately 25%. In total, approximately NIS 163 million were raised from the public, according to market value of approximately NIS 334 million. In the beginning of August this year, Telrad will join the Index TA Tech-Elite under the "Fast Track" arrangement, and the company's shares are also expected to enter the SME-60 and SME-150 indices, as well as to the technology indices."  

Photo, left to right:         
Hani Shitrit-Bach, Senior Vice President, Head of Listing and Economics Department of TASE; Ran Bukshpan, Telrad CEO; Amnon Neubach, TASE Chairman of the Board of Directors, and management of Telrad and its subsidiaries.   

Photo, free-of-charge: Guy Assayag.   
  
Telrad Management Opens Trading on the Occasion of the Company's IPO on TASE