Tel Aviv, December 6, 2020 - Management of Aquarius Engines opened trading this morning on the occasion of the shares listing on TASE.
23 new companies have already joined TASE this year and TASE expect more to join before the end of the year. Aquarius will be included in the Technology Sector, which currently comprises 77 companies with a total market cap of NIS 183 billion.
Aquarius develops, manufactures and distributes linear internal combustion engines, based on its proprietary technology, which are also integrated into generators for off-grid electricity or for boosting electric powertrain. With one moving part only, Aquarius' engine is compact and lightweight, allowing for reduced manufacturing and current maintenance costs.
The company raised NIS 223 million from the public at market cap of NIS 1.03 billion.
At the beginning of February 2021, the company shares will join the TA-90, TA-125, SME-150, Tech-Elite, Global BlueTech and TA-Technology indices.
Ariel Gorfung, Co-Founder and CEO of Aquarius: “Aquarius Engines is one of a kind. For years, we have dedicated ourselves to the development of an innovative, compact and lightweight engine to address the expanding and more diversified use of electricity. We can become the power generation engine of choice for a broad range of sectors, from communications, aviation and security through to electric vehicles. Apple has revolutionized the cellular phone market and YouTube has changed the music industry. We want to revolutionize the engine industry. We are delighted to have pension funds of Israeli citizens benefit from the value created by technology and innovation companies. We are proud to be a part of the new wave of technology companies being listed on TASE."
Drorit Vilnai, Listings Unit Manager at TASE, said: “We welcome Aquarius into TASE's public companies family. The Israeli public's enthusiastic response to the IPO reflects the trust and the interest of Israeli investors in becoming a part of the success of Israel's growing high-tech sector. I wish the company success as a public company and to seeing it grow through TASE, for the benefit of its employees, investors and the capital market."
In the picture from right to left: Ittai Ben Zeev, CEO of TASE; Ariel Gorfung, Co-Founder and CEO of Aquarius; Asaf Iram, Director in Aquarius; Liraz Ben-Ami, CFO of Aquarius; Noa Mizrachi, CDM of Aquarius; Giel Matz, President & COO of Aquarius; and Hani Shitrit Bach, EVP and Head of Listings at TASE.
Photography credit: TASE. The photo is free of charge.