Carrefour Israel on its way to an IPO on the Tel Aviv Stock Exchange - first draft prospectus submitted

Carrefour Israel Group, which operates the Carrefour chain in Israel, has submitted a first draft prospectus to the Israel Securities Authority, an initial step toward a potential IPO on the Tel Aviv Stock Exchange. The company's valuation is expected to range between NIS 750 million and NIS 1 billion. Electra Consumer Products, which holds 49.49% of the company, is considering a secondary offering of some of its shares. The IPO is not yet certain.

Carrefour Israel Group, the company that holds Global Retail which operates the Carrefour chain in Israel, has submitted a first draft prospectus to the Israel Securities Authority. This is an initial step toward a potential IPO and listing of its shares on the Tel Aviv Stock Exchange. The company's valuation for the IPO has not been finalized but is expected to range between NIS 750 million and NIS 1 billion. Electra Consumer Products, which holds 49.49% of the company, is considering a secondary offering of some of its shares, against the backdrop of the law to promote competition and reduce concentration. The CEO of Electra Consumer Products, Zvika Schwimmer, stated that submitting the prospectus is a first step toward the possibility of an IPO, and that it is a significant milestone in the strategic plan. The chain, which has 145 branches, closed the second quarter of 2026 with a 2.6% decline in revenue to NIS 817 million, and a 7.2% decline in same-store sales. The decline was attributed to the timing of the Passover holiday and the impact of "Israel's Basket" – a Ministry of Economy tender for selling a discounted product basket. Segment profit remained at NIS 86 million, and net profit stood at NIS 8 million, compared to NIS 5 million in the corresponding quarter. The company clarified that there is no certainty that the IPO will take place.