Barzani went public: raised NIS 1 billion – and a third of the money will be distributed to the owners

Infrastructure company Y.D. Barzani completed its initial public offering on the Tel Aviv Stock Exchange, raising approximately NIS 1 billion at a valuation of NIS 3.25 billion after the money. The company plans to distribute a dividend of NIS 330 million within three months, of which about NIS 240 million will go to the controlling shareholders.

The Jerusalem-based infrastructure company Y.D. Barzani completed its initial public offering yesterday (Tuesday) on the Tel Aviv Stock Exchange, raising approximately NIS 1 billion at a company valuation of about NIS 3.25 billion after the money. The company was founded in 1991 by brothers Yossi Barzani and Dayan Bar, who still hold equal stakes. It engages in road paving, bridge and interchange construction, and transportation infrastructure development, providing services to entities such as Netivei Israel and Israel Railways. About 90 institutional investors participated in the offering, submitting bids exceeding the amount raised. The entire raise was conducted through the issuance of new shares, so the money enters the company's coffers. Within three months of the offering, the company intends to distribute as a dividend about a third of the amount raised – NIS 330 million, of which about NIS 240 million is expected to reach the controlling shareholders, the Barzani brothers.

Barzani went public: raised NIS 1 billion – and a third of the money will be distributed to the owners