Rapac Energy Raises 420 Million Shekels in IPO Valued at 1.74 Billion Shekels

Rapac Energy, a subsidiary of Rapac Communications, has completed its institutional share offering on the Tel Aviv Stock Exchange, raising 420 million shekels and valuing the company at 1.32 billion shekels pre-money. Following the public offering phase, Rapac Energy is expected to begin trading at a market capitalization of approximately 1.74 billion shekels, surpassing its parent company Rapac Communications, which is valued at 1.49 billion shekels.

Rapac Energy serves as the energy division of Rapac Communications and operates across the entire value chain of energy projects, including initiation, planning, financing, construction, operation, and electricity sales. Its main assets include the MRC Alon Tavor power station with an 813-megawatt capacity, co-owned with Generation Investment Fund and Mivtach Shamir, and the Reindeer power station, which is under construction and planned to have a capacity of about 900 megawatts.

The controlling shareholder of Rapac Communications, Tanhum Oren, holds a 50.3% stake in Rapac Energy. The company, managed by Itai Hagi, plans to expand into related sectors such as data centers and to grow its presence in international markets. Approximately a year and a half ago, Rapac Energy acquired Synergy, a strategic move supporting its expansion goals. The IPO was underwritten by Valio Base and Rosario, with legal counsel provided by Ofer Yankovitz and Gil Cherchi from the law firm Wexler Bergman.