The IPO included an offer for sale by Shamrock Holdings, which sold shares for $16 million.
Polymer Logistics Ltd., which specializes in the design and manufacture of packaging systems for retail chains, looks for now as though it will be the last Israeli company to float on London’s Alternative Investment Market (AIM) in 2006. The company completed its IPO on AIM yesterday. It issued 20.7 million shares, at ₤0.82 each. Polymer raised ₤17 million ($34) at a company value of ₤63.5 million ($125 million).
The IPO also included an offer for sale by Polymer’s largest shareholder, Shamrock Holdings, which sold 9.8 million shares for ₤8 million ($15 million), and reduced its holdings in Polymer from 29.2% to 8.8%. Together with the IPO, Polymer raised a total of $49 million, and its stock will begin trading today under the ticker POLL. The underwriter and adviser to the float was UK investment bank Collins Stewart.
Published by Globes [online], Israel business news - www.globes.co.il - on December 13, 2006
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