Key Takeaways
- Afcon raised a new round from מנורה, מגדל.
- Sector: Energy Infrastructure & Renewables.
- Geography: Israel, Europe, Poland, Spain.
Analysis
- Afcon, controlled by the Shemtov family, plans to IPO its renewable energy arm at an estimated valuation of 800 million ILS.
- This move follows a failed merger attempt with Sunflare earlier in the year, where the valuation was significantly lower.
- The company aims to raise 150-200 million ILS, with proceeds going to support expansion.
- Major shareholders Menora and Migdal will transfer their stakes in European energy partnerships in exchange for shares in the new company.
- Afcon's renewable energy division has a current installed capacity of 83 MW and is expected to add nearly 190 MW by year-end.