2014 Israeli offerings in US set all-time record
Nov. 3, 2014
2014 was not the best year ever in sales of Israeli companies to foreign companies, but it did set a record in offerings by Israeli companies in the US capital market (IPOs and secondary offerings by public companies). Quite a few Israeli companies this year preferred flotations to being acquired.
From "Globes" monitoring of primary market activity on Wall Street by Israeli companies, it emerges that so far this year, there have been 26 offerings, both IPOs and secondary offerings, by Israeli technology and biomedical companies. These offerings raised an all-time record of $3.6 billion, breaking the previous record of $3.3 billion set in 1999 during the notorious bubble.
For the sake of comparison, Israeli Wall Street offerings totaled only $335 million in 1994, a number that has risen tenfold in the past 20 years, highlighting how Wall Street has become an important financing tool for the companies themselves, while blazing the trail to wealth for quite a few Israeli high-tech and biomedical entrepreneurs.
Only four of the 14 IPOs were by information technology companies: Varonis Systems, Borderfree, Mobileye, and CyberArk Software. The other 10 were by biomedical or medical equipment companies, a figure that highlights the dominance of the biomedical industry in the primary market this year.
For the full Globes news item click here.