Cristallino, Dreame importer, plans Tel Aviv IPO at ~1 billion shekel valuation

Cristallino, the Israeli importer of Dreame appliances and electric vehicles, is preparing an IPO on the Tel Aviv Stock Exchange at a valuation of 800 million to 1 billion shekels, aiming to raise about 200 million shekels.

Rakia Capital investment fund plans to list DREME, the vacuum cleaner importer, on the stock exchange at a valuation of nearly one billion shekels, a year after joining the partnership in the company at a valuation of 500 million shekels. The Kristalino Group, which owns the brand, was founded 48 years ago by Haim Albaz and his sons Ran, Guy, and Daniel. The group imports vacuum cleaners and electrical products under the DREME brand, alongside the XI Mobility division for importing electric vehicles, Swarovski jewelry imports, and the Family air conditioner activity acquired in 2022. Additionally, the group markets home appliances under the private label SMARTER. No comment was received from Kristalino and Rakia Fund.