Highcon has announced a successful Initial Public Offering (IPO) on the Tel Aviv Stock Exchange in Israel. The digital finishing group raised $45 million from Israeli institutional investors in a capital increase, resulting in a $165 million valuation following the IPO.
Shlomo Nimrodi, Highcon's CEO, welcomed the IPO, which is expected to increase the company's earnings "global market presence" .
He also stated on that occasion: "After a difficult first half of the year with the COVID-19 pandemic and the cancellation of the Drupa trade show, we are now seeing a positive sales and marketing trend with many transactions in the US and Europe. This increase is due to the rise of e-commerce and the move towards greater sustainability."
The main shareholders of Highcon, whose stock symbol is HICN, remain Landa Ventures, owned by Benny Landa, founder of the Israeli Landa Group and Chairman of Highcon's Advisory Board, and the venture capital firm Jerusalem Venture Partners (JVP), led by Erel Margalit.
