Parent Company of IWI, Meprolight Going Public

By Tom Knighton

SK Group is a holding company made up of brands like Israeli Weapon Industries and Meprolight. It’s privately held, which means you can’t just log onto your favorite stock trading site and pick up a few shares. However, the days of not being able to do that are limited, according to a report at Reuters.

Defense holding company SK Group is planning an initial public offering on the Tel Aviv Stock Exchange at a company valuation of 2 billion shekels ($565 million), Israeli financial news websites reported on Monday.

The SK Group, owned by Israeli businessman Samy Katsav, has a portfolio with holdings in several security and defense focused subsidiaries. Among them are Israel Shipyards, one of the largest shipbuilding and repair facilities in the eastern Mediterranean, and Israel Weapon Industries Ltd, which manufactures the Uzi submachine gun.

A spokesperson for SK Group declined to comment on any particulars of the plan.

The initial public offering (IPO) is currently set for mid-2018 and is reportedly being done to help fund SK Group’s planned entry into the Indian market. The company recently opened a factory in the Indian state of Madhya Pradesh in conjunction with Punj Lloyd, an Indian engineering outfit.

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Source:: Bearing Arms