Fidelity Sells Majority Stake in Defense Tech Firm Next Vision for $460 Million
Translated & summarized from TheMarker by baba
The story in 6 lines · by baba
- Fidelity is selling 6% of Next Vision for $460 million.
- The sale reduces Fidelity's stake in the defense tech firm by 65%.
- Goldman Sachs is handling the transaction as distributor.
- Next Vision develops drone cameras for defense industries.
- The company has attracted other foreign investors.
- Next Vision's stock price has risen 16% this year.
Investment management firm Fidelity is significantly reducing its holdings in the Israeli defense technology company Next Vision, which is traded on the Tel Aviv Stock Exchange. Fidelity, currently holding 9.5% of Next Vision's shares, plans to sell 5.7 million shares, representing approximately 6% of the company, for about $460 million. This sale will decrease Fidelity's stake by 65%.
Investment bank Goldman Sachs is acting as the distributor for this transaction. Next Vision, which develops cameras for drones used in the defense industry, has attracted interest from various foreign investors beyond Fidelity. The company already has foreign shareholders who hold stakes below the 5% threshold that defines a significant shareholder, operating "under the radar."
In June of this year, Next Vision's founders sold shares worth 570 million shekels, or 2.2% of the company, to foreign institutional investors. At that time, the stock price was higher than it is currently, trading at 270 shekels per share. The recent sale is being conducted at a 7% discount compared to Next Vision's closing price of 244 shekels on the day of the transaction.
Fidelity initially became a significant shareholder in Next Vision in mid-2025. Later, in September of the same year, Fidelity increased its investment in the company. Next Vision is currently valued at approximately 22.6 billion shekels, having seen a 16% increase in its stock price since the beginning of the year.
