Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Israeli telecom equipment maker ECI plans London IPO - report

Published 16/07/2018, 09:50
Updated 16/07/2018, 09:50
© Reuters. Israeli telecom equipment maker ECI plans London IPO - report

© Reuters. Israeli telecom equipment maker ECI plans London IPO - report

TEL AVIV (Reuters) - Israel's ECI Telecom Ltd is looking to raise 130 million pounds on the London Stock Exchange in a deal valuing the company at around 500 million pounds, the Calcalist financial news website reported on Monday.

Barclays (LON:BARC) and UBS Group are the bookrunners for the initial public offering, Calcalist said, citing a person familiar with the matter. ECI has contracted a British law firm to prepare the prospectus, it added.

ECI's owner, Israeli businessman Shaul Shani, intends to list the company this year or in early 2019, the report said, noting that the telecommunications equipment supplier prefers to go public in London as most of its sales are from Europe, Africa and East Asia.

ECI Telecom said it does not comment on rumours.

A spokesman for Barclays declined to comment. Officials at UBS had no immediate comment.

Calcalist estimated the company's revenues at $380 million for 2017.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.