MobileMax moves onto TASE

Herzliya-based start-up MobileMax Inc. successfully completed its initial public offering on the Tel Aviv Stock Exchange on Thursday, raising NIS 22 million in shares and options.

Herzliya-based start-up MobileMax Inc. successfully completed its initial public offering on the Tel Aviv Stock Exchange on Thursday, raising NIS 22 million in shares and options. The company, which was founded by Raanan Cohen in 2004 and is valued at NIS 98m., is owned 11.5% by Leon Recanati's GlenRock Israel; 8% each by Colmobil Ltd. Managing Director Yoav Harlap and Arie Saban; and 6% each by former Israel Phoenix Assurance Chairman Joseph Hackmey and Eli Elroy. MobileMax develops, produces and markets software and hardware that enable low-cost international calls from mobile telephones.