Rami Levy’s real estate business is on its way to the stock exchange. Levy seeks to raise NIS 900 million in an IPO at a pre-money valuation of NIS 3.6 billion. If it goes ahead, this will be one of the largest IPO’s on the Tel Aviv Stock Exchange of recent years.
If the move is completed, most of the money raised will go into Levy’s pocket. According to the prospectus published on Friday, about half the sum (NIS 450 million) will be paid to Levy as a dividend, while NIS 210 million will go to repaying loans that he has made to the company. The balance, NIS 240 million, will go the company and will be used to support its day-to-day activity.
On completion of the IPO, Levy, who, together with his wife, currently owns all of the shares, will be diluted to a holding of 90% while the public will hold 20%.
The company’s main business is income producing real estate. It holds 25 properties, with total space of 96,000 square meters, valued at NIS 1.8 billion. Eighteen of the properties are commercial space, most of them leased to Levy’s supermarket chain. In addition, the company has three industrial and logistics properties, and four properties used for offices and housing.
The company also has development activity. It has eight construction projects, three of which are underway, while one is in the planning process and four are described as reserves of land. The projects, in the Jerusalem area, are designated for offices and residential use. In addition, in the past two years, the company has embarked on urban renewal activity, but it currently has only one project in that field.
Last year, the company had revenue of NIS 213 million, 9% more than in 2023. About half the revenue consisted of rents from Rami Levy’s retailing business (supermarkets, warehouses, and logistics sites). The company posted a net profit of NIS 155 million, 43% higher than in 2023.
This is not the first time that Levy has attempted to carry out an IPO of his privately-held real estate business. The last attempt was in 2021, during a wave of flotations on the Tel Aviv Stock Exchange, but the move did not materialize.
Published by Globes, Israel business news – en.globes.co.il – on August 31, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
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