Avissaror Real Estate Firm Cuts Valuation by 25% in Tel Aviv IPO
How 2 Israeli newsrooms covered this story — translated into English and compared side by side.
First reported by Globes · 23 hours ago
What happened
Avissaror, an Israeli real estate developer, cut its IPO valuation by 25% to 2 billion shekels amid a cooling market, raising 530 million shekels. Despite lower valuation, the founding family retains significant control and will receive dividends from the IPO proceeds. The company faces challenges selling completed units but reported strong revenue growth in early 2024, though net profits fell sharply due to project-specific issues.
- 01Avissaror lowers IPO valuation from 2.6 billion to 2 billion shekels amid market cooling.
- 02The company raised 530 million shekels by selling 21% of shares plus stock options.
- 03Founding family retains majority control and will receive nearly 160 million shekels in dividends.
- 04Avissaror holds 1,800 housing units under construction with expected 1.3 billion shekels gross profit.
- 05Q1 2024 revenues rose 86% to 265 million shekels, but net profit fell 75% to 15.7 million shekels.
- 06Family bought 13 units in Tel Aviv project for 115 million shekels at market prices.
Summary translated & synthesized from the sources below by baba. Read each original for the full report.
Full coverage · 2 outlets
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