Israeli companies led foreign IPOs in London in 2014

Matomy, a digital advertising group that went public in July, raised £41m when it debuted on the LSE. The Delek group sold holdings in Barak Capital in the third quarter of 2014.

By NIV ELIS
A jogger goes on a run through central London (photo credit: REUTERS)
A jogger goes on a run through central London
(photo credit: REUTERS)
More Israeli companies went public on the London Stock Exchange in 2014 than any other foreign country, representatives of the exchange said in Israel last week.
“I’m delighted so many Israeli companies are listing in London. London offers many advantages for Israeli companies – appropriate regulation, the English language, more banks than anywhere else in the world, real excitement about what Israel has to offer, and all less than [a] five-hour flight away,” said Matthew Gould, UK ambassador to Israel.
Most of the companies listed on the Alternative Investment Market, the London exchange’s sub-market, which is geared toward smaller “growth” companies.
In recent years, many Israeli companies looking to go public have turned to the AIM as a middle ground between the much larger NASDA Q – where Israel has the second largest number of companies listed next to the US – and the local Tel Aviv Stock Exchange.
Yet two of the nine companies that turned to London in 2014, Matomy and Barak Capital, listed on the main market.
Matomy, a digital advertising group that went public in July, raised £41m when it debuted on the LSE. Delek Group sold holdings in Barak Capital in the third quarter of 2014.
A study by PWC Israel released at the end of 2014 found that Israeli tech companies going for public listings were of far greater value than those who were acquired by a foreign company.
According to the study, the roughly one-quarter of tech companies that went public (as opposed to an exit) accounted for nearly two-thirds of the transaction value for the year.