Afcon Holdings Files Draft Prospectus for Renewable Energy Subsidiary IPO
Afcon Holdings submitted a draft prospectus to the Israel Securities Authority for an initial public offering of its subsidiary, Afcon Renewable Energy, on the Tel Aviv Stock Exchange.
Afcon Holdings Group, one of Israel's leading companies in technology-intensive projects, announced on Thursday that it has submitted a first draft prospectus to the Israel Securities Authority regarding the IPO and listing of its subsidiary, Afcon Renewable Energy, on the Tel Aviv Stock Exchange.
International Activity and IPO Structure
Afcon Renewable Energy operates in the initiation, construction, and management of renewable energy projects in Israel, Europe—with an emphasis on Poland and Spain—and the United States, as well as electricity sales. The planned offering is structured as a combined transaction to acquire the full rights of limited partners from the Migdal and Menora insurance groups in a joint fund, in exchange for share allocations and the public listing.
Management Commentary
Following the completion of the IPO, Afcon Holdings will retain control of the renewable energy subsidiary. The offering is being led by Rosario Capital.
"With over a decade of proven experience in renewable energy, we have built an extensive international operation and a significant portfolio in Israel, Europe, and the U.S., including approximately 275 megawatts of operational assets and hundreds more in various stages of development," said Israel Reif, Chairman of Afcon Group.
Reif added that institutional giants Migdal and Menora are expected to become direct shareholders in the subsidiary, reflecting deep trust in the company's long-term growth potential and financial strategy.
