What Happened
Government Weighs IPO Options for IAI and Rafael Amid Debate
A major Israeli business group is urging the government to list state-owned defense companies, including Israel Aerospace Industries and Rafael Advanced Defense Systems, on the Tel Aviv Stock Exchange rather than on the Nasdaq stock exchange in the United States. The proposed offerings could value the companies at tens of billions of dollars and generate billions of dollars for the government. The Association of Publicly Traded Companies argues that the companies are strategic national assets and should be listed domestically to benefit Israeli investors. The debate was first reported by Ynetnews.