The floatation of Oil Refineries raised NIS6.43 billion ($1.54 billion) making it the largest ever initial public offering (IPO) on the Tel Aviv Stock Exchange. It is also the largest privatization Israel has ever seen. The shares were sold in a two tender structure that saw 44% of Oil Refineries offered in a private placement for institutional investors and 56% offered through a public tender.
February 28 2007