Management of Danya Cebus opened trading this morning in celebration of its IPO on TASE.

Danya is joining the 26 new companies that listed in TASE's equity market since the beginning of 2021.

The company is included in TASE's Real Estate Sector, under the Construction Subsector that currently comprises 38 companies with a total market cap of NIS 37 billion.

Danya, one of Israel's largest construction companies, with some 1,900 employees, currently manages 80 projects in Israel and worldwide in the fields of residential construction, non-residential construction and infrastructure, and is also engaged in residential development and contracting (primarily in “Residential Price" projects). Outside Israel, the company operates in the United States, Romania and Poland. The company had previously listed on TASE in 2000 and in July 2015 was delisted by way of a full tender offer by Africa Investments company.

The revenue of the company in the first nine months of 2020 amounted to NIS 2.7 billion and its dividend policy provides for the distribution of 35% of the annual net profit.

The company raised NIS 360 million in a book building IPO and a secondary offering, based on a company value of NIS 1.8 billion (after the money).

Arik Speier, Chairman of the Board. Danya Ltd and Vice President, lapidoth capital, said: “We are ringing the opening bell exactly 7 days following Danya's official IPO on TASE - a successful IPO that reflects Israel's leading financial institutions' solid confidence in Danya. Danya possesses all the resources required of a leading player, not only in the field of construction, but also in energy, BOT projects, development, systems, industry,including scalability of operations and the value chain and more."

Ronen Ginsburg, CEO of Danya, said: “This exciting occasion was facilitated by years of hard work by the managers and employees of Danya. Their commitment and diligence have made it possible for the company to become a market leader. I would like to thank our employees and the management team for their dedication and the investors for their great vote of confidence. Danya will continue to move forward and spearhead the development of Israel's construction sector."

Hani Shitrit Bach, EVP and Head of Listings at TASE, said: “We are proud to see major Israeli companies, such as Danya, choose TASE, home of the Israeli economy, as the most natural venue for capital raising. This allows the Israeli public to enjoy the fruits of success of Israeli companies from all sectors of the economy and contributes to the growth of the Israeli economy as a whole. We expect to see more major companies join TASE in the near future. We wish the company management and its employees continued success and a nation-wide upward momentum in construction and development, for the benefit of the capital market and the Israeli economy."

In the picture from right to left: Hani Shitrit Bach, EVP and Head of Listings at TASE; Ronen Ginsburg, CEO of Danya; Arik Speier, Chairman of the Board. Danya Ltd andVice President, lapidoth capital; Amir Doron, VP Finance of Danya; and Sharon Katzurin-Sivan, Vice President, Chief Legal Counsel & Regulation, Danya.

Photography credit: Sivan Farag, free of charge.