UPDATE 1-Israeli drone maker Aeronautics plans Tel Aviv IPO -report | Reuters

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JERUSALEM Feb 21 Israeli drone maker
Aeronautics is planning an initial public offering on the Tel
Aviv Stock Exchange that will value the company at around 1
billion shekels ($270 million), financial news website TheMarker
reported on Tuesday.

Officials at Aeronautics were not available to comment on
the report in TheMarker, one of Israel’s leading financial news
outlets. Officials at Viola Group, a private equity group
invested in Aeronautics, declined to comment.

A spokeswoman at the Tel Aviv Stock Exchange said they were
not aware of a planned IPO.

Aeronautics develops, manufactures and markets unmanned
aerial vehicles.

According to TheMarker, current shareholder including Viola
plan to offer 40-50 percent of the company’s equity in addition
to issuing more shares to raise funds for its…

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