Pasternak Shoham Investment House Raises $19 Million in Tel Aviv IPO

Investment house Pasternak Shoham has completed its initial public offering on the Tel Aviv Stock Exchange, raising NIS 70 million (approximately $19 million) at a pre-money valuation of NIS 280 million (approximately $76 million).

Among the significant investors were insurance agent Itzik Oz, head of Phoenix Agencies, and a trust linked to Professor Yitzhak Soari. However, neither will become a controlling shareholder as each acquired less than 5% of the company's shares, with their combined stake below NIS 30 million.

Institutional investors largely abstained from the offering, which was led by IBI Underwriting, with the exception of one major insurance company. Pasternak Shoham manages approximately NIS 6 billion (approximately $1.6 billion) in mutual funds.

The company is controlled by its founders: Eran Pasternak, who holds 60% of the shares and serves as chairman, and Shi Shoham, who holds 40% and serves as CEO. The IPO follows a substantial increase in the company's profits, reporting a net profit of NIS 27 million in 2025, nearly triple the NIS 10 million profit from 2024 and NIS 9 million in 2023. The IPO valuation reflects a P/E ratio of 11 based on 2025 earnings.