Wilipod International Delists from Nasdaq to Focus Trading on Tel Aviv Stock Exchange

Wilipod International, a subsidiary of Wilipod Investments controlled by brothers Yossi and Tzvika Williger, announced it will delist its shares from Nasdaq after three decades and consolidate trading exclusively on the Tel Aviv Stock Exchange (TASE). The delisting is expected to take effect by the end of the month, after which the company will file Form 25 with the U.S. Securities and Exchange Commission (SEC) to terminate its Nasdaq registration and reporting obligations. Shareholders will continue to trade Wilipod’s ordinary shares on TASE, which will become the sole official trading venue for the company’s stock. The company noted that the dual listing is no longer necessary in today’s global trading environment where investors can access securities internationally regardless of listing location. Maintaining a single listing on TASE will allow Wilipod to focus more on business development and reduce costs associated with U.S. registration, where it does not have core operations. Wilipod expects to submit the delisting paperwork within two weeks, with the last Nasdaq trading day near month-end. Post-delisting, shares will remain available for over-the-counter trading in the U.S. Wilipod also released an investor presentation highlighting its strengths in the food market, including supply sources, customer network, and distribution infrastructure. The company owns an 8,600 square meter logistics center on about 19 dunams, used for storage and distribution of dry, chilled, and frozen products, historically valued at approximately 27 million shekels. Currently, Wilipod is investing 120 million shekels to build a new refrigerated and frozen logistics center, expected to be completed in Q4 2024. This facility will support cheese slicing and packaging operations and enhance the company’s capacity for storage, transport, and distribution, aiming to reduce operating expenses by about 10 million shekels annually at 60% utilization. Wilipod’s business involves developing, importing, marketing, and distributing over 650 food products worldwide to more than 1,500 customers and 3,000 sales points, including major retail chains, wholesalers, and institutional clients. In its Q2 2024 financial results, Wilipod reported stagnant sales attributed to Passover timing but showed significant improvement in gross and operating profitability due to the stronger shekel against the euro and dollar. Net profit declined 38.5% to 12.7 million shekels, mainly due to a sharp drop in financing income compared to the same quarter last year.