Fridenson files TASE IPO prospectus

The company plans to complete the flotation by the end of February.

Logistics and freight company Fridenson Logistics Services, managed by brothers Rami and David Fridenson, has filed a draft prospectus with the Tel Aviv Stock Exchange (TASE) for its upcoming IPO, which it plans to carry out on the basis of its third quarter results, meaning by the end of February.

Fridenson is expected to post a profit of NIS 6-8 million for 2006, but this was affected to a large degree by strike action at the ports which slowed down the company’s activity in the third quarter.

The Fridenson IPO, which will be led by Poalim IBI Underwriting and Investments (TASE: PIU), and First International & Co Underwriting and Investments Ltd, will probably consist of an issue of shares and bonds.

Fridenson is one of Israel’s largest logistics and freight haulage companies.

Published by Globes [online], Israel business news - www.globes.co.il - on January 17, 2007

© Copyright of Globes Publisher Itonut (1983) Ltd. 2007

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