Uzi weapons manufacturer SK Group eyes Tel Aviv IPO -media

Punj Lloyd

13/11/2017 08:43

TEL AVIV, Nov 13 (Reuters) - Defence holding company SK 
Group is planning an initial public offering on the Tel Aviv 
Stock Exchange at a company valuation of 2 billion shekels ($565 
million), Israeli financial news websites reported on Monday. 
    The SK Group, owned by Israeli businessman Samy Katsav, has 
a portfolio with holdings in several security and defence 
focused subsidiaries. Among them are Israel Shipyards, one of 
the largest shipbuilding and repair facilities in the eastern 
Mediterranean, and Israel Weapon Industries Ltd, which 
manufactures the Uzi submachine gun. 
    A spokeswoman for SK Group declined to comment. 
    The IPO, which is being planned for mid-2018, is expected to 
fund SK Group's entry into the Indian market, the Calcalist 
website said. 
    In May, IWI opened a small arms manufacturing facility in 
the Indian state of Madhya Pradesh, as part of a collaboration 
with Indian engineering group Punj Lloyd  PUJL.NS . 
($1 = 3.5408 shekels) 
 
 (Reporting by Tova Cohen, Editing by Ari Rabinovitch) 
 ((tova.cohen@thomsonreuters.com; +972-9-899-0222; Reuters 
Messaging: tova.cohen.thomsonreuters.com@reuters.net)) 
 
Keywords: DEFENCE SK GROUP/IPO