Pasternak Shoham Completes Tel Aviv IPO Raising ILS 70 Million
Investment house Pasternak Shoham completed its Tel Aviv IPO, raising ILS 70 million at a ILS 280 million pre-money valuation. Key investors included Itzik Oz and Prof. Yitzhak Swary's Allied Group.
The investment house Pasternak Shoham has successfully completed its initial public offering (IPO) on the Tel Aviv Stock Exchange. The firm raised ILS 70 million at a pre-money valuation of ILS 280 million.
Insurance agent Itzik Oz, head of Phoenix Agencies, and Allied Group, led by Professor Yitzhak Swary, were the largest investors in the offering. However, neither will become an interested party, as each purchased less than a 5% stake, with their combined investment totaling under ILS 30 million. Aside from one major insurance company, institutional entities barely participated in the funding round, which was led by E.B.I. Underwriting.
Financial Performance and Ownership Structure
Pasternak Shoham, which manages approximately ILS 6 billion in mutual fund assets, remains under the control of its founders:
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Eran Pasternak (holds 60% of shares and serves as Chairman);
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Shai Shoham (holds 40% of shares and serves as CEO).
The company went public following a sharp surge in profitability. In 2025, Pasternak Shoham reported a net profit of ILS 27 million, nearly triple the net profit of ILS 10 million recorded in 2024 and ILS 9 million in 2023. The valuation sought in the IPO reflects a multiple of 11 on its 2025 earnings.
