Tel Aviv Stock Exchange on Track for Record Year with Billions Raised

The Tel Aviv Stock Exchange (TASE) is poised for another record-breaking year, having facilitated the fundraising of approximately 7.8 billion shekels by 21 new companies in the first nine months of 2026. These companies collectively hold a market value of around 33.6 billion shekels. Among the notable initial public offerings were Tidhar, which raised about 1.7 billion shekels at a valuation of 7.9 billion shekels; B.G.R. (Bigger), which raised 855 million shekels; and Rafa Laboratories, which secured 600 million shekels.

Several well-known entities also tapped the market. Rami Levy Real Estate, the property arm of the Rami Levy group, raised approximately 521 million shekels with a post-money valuation of 3.26 billion shekels. Prudels, a food ingredients company controlled by the family of former Shin Bet chief Ronen Bar, raised 369 million shekels at a valuation of 2.35 billion shekels. Best Group, a construction and infrastructure firm recently linked to a financial irregularities probe, raised 400 million shekels at a valuation of 2.9 billion shekels. Additionally, five companies, including Palo Alto, Alpha Tau Medical, InflaRay, Audiosight, and BioHarvest, conducted dual listings on the TASE.

Meanwhile, the corporate bond market has seen substantial activity, attracting significant capital. In September alone, companies raised about 17.7 billion shekels from the public. Since the beginning of the year, 18 companies have issued bonds on the TASE for the first time, raising a cumulative total of approximately 8.87 billion shekels.

Banks have been leading the bond issuances, with the banking sector raising over 54 billion shekels year-to-date, according to the TASE's research unit. Mizrahi Tefahot Bank stood out in September with an issuance of 4.26 billion shekels, followed by Bank Hapoalim, which raised 1.82 billion shekels.

Sector-wise, banks accounted for about 7.4 billion shekels, or 42% of September's total bond issuances. The real estate and construction sector followed with approximately 4.2 billion shekels (24%), while the energy and oil/gas exploration sector raised 2.05 billion shekels, and the insurance sector raised 1.48 billion shekels.