Electricity monitoring co CES looks to TASE IPO

The company hopes to raise around $10 million at a market value of $23 million.

CES (Computerized Electricity Systems Ltd.), which develops, manufactures, markets and sells smart household electrical systems and computerized electricity boards for energy management, efficiency and savings is planning an IPO on the TASE.

The company hopes to raise around $10 million at a market value of $23 million.

The company's largest shareholder is AquAgro Fund, which invests in advanced and innovative technologies in water, cleantech and agriculture. Other shareholders include Israel Electric Corporation (IEC) (TASE: ELEC.B22) and private investors.

The field of efficient management of electricity one of the world's fastest growing areas. Governments and national and regional electricity companies, and major industrial firms are making significant efforts to themselves make more efficient and reduce their electricity consumption.

CES operates in several countries around the world and in 2010 has had talks about distribution agreements in the US, Canada, South Africa, Russia and Israel.

Published by Globes, Israel business news - www.globes-online.com - on October 6, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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