Ashdod Port Company to Launch Massive IPO Amid Conflict

Israel's Ashdod Port Company announced plans for an IPO to sell up to 49% of its minority shares, aiming to expand its capital base amid the current Gaza conflict. The state-owned port has remained operational despite security risks. A tender for an issuance adviser has been published.

In a bold financial maneuver during ongoing regional tensions, Israel's Ashdod Port Company declared plans for an initial public offering. The decision involves selling up to 49% of its minority shares, a move intended to strengthen the company's capital base and boost future profitability.

Ashdod Port, the last remaining state-owned port in Israel, has notably stayed open amidst the escalating war in Gaza, despite being within range of rockets launched from the enclave. The port's resilience highlights its strategic importance and operational commitment.

This week, the company has also issued a tender seeking an issuance adviser to spearhead the IPO process, marking significant steps toward public listing amidst the challenging geopolitical climate.

(With inputs from agencies.)