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Keystone CEO Confirms Fast-Tracked Egged IPO Within Next Year
Keystone CEO Navot Bar announced plans for Egged’s IPO, expected within a year, alongside strong financial growth and strategic expansions. The company raised its 2030 equity target and highlighted significant value creation since acquiring Egged in 2022.
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What happened
- 01Keystone raised its 2030 equity target from 4 to 6 billion shekels, with 31.2% return on equity last year.
- 02Egged’s IPO is advancing quickly and expected within the next year, per CEO Navot Bar.
- 03Egged’s valuation is projected at around 8 billion shekels for the upcoming IPO.
- 04Keystone has expanded assets including a data center campus and a 40% stake in HOT Mobile.
- 05Since acquiring Egged in 2022, Keystone has distributed over 1 billion shekels in dividends.
- 06Globes launched a new service transcribing Tel Aviv Stock Exchange company earnings calls for transparency.
The IPO is projected to value Egged at about 8 billion shekels, reflecting rapid progress beyond preliminary planning stages.
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