After Next Vision shares jumped more than 160% over the past year, the company’s founders decided to sell part of their holdings for $200 million, or 586 million shekels, to a mix of Israeli and foreign institutional investors. The sale brings the founders’ total share sales over the past year to more than 1 billion shekels.
The company said three founders, chairman Chen Golan, chief technology officer Boris Kipnis and CEO Michael Grossman, along with early investor Nahman Ben-Sheya, intend to sell shares amounting to about 2.2% of the company’s equity. This is the latest in a series of disposals by the group.
At the start of the year, the same founders and long-time investor Yosef Sneldar sold shares worth about 350 million shekels to Harel Insurance. About a year earlier, the five sold additional shares for around 146 million shekels. Together, those transactions bring their total realized proceeds in the past year to roughly 1.1 billion shekels.
Next Vision, which develops and manufactures stabilized day and night cameras mainly for drones and unmanned aerial vehicles, went public in 2021 during the Tel Aviv tech IPO wave. Unlike most companies from that period, it has created enormous value for shareholders, with the stock up more than 5,700% since the IPO and the company valued at about 25 billion shekels. After joining the Tel Aviv 35 index late last year, the share price kept climbing, and the company is now the 15th-largest on the local market, above long-established names such as First International Bank, Bezeq, ICL and Delek Group.
