Photo: btr / CC BY-SA 2.5
Israeli infrastructure contractor Y.D. Barazani is seeking a lower valuation for its planned stock-market debut, while targeting a share sale of about NIS 1.03 billion, Globes reported Wednesday.
The proposed pre-money valuation is NIS 2.4 billion, below earlier estimates of NIS 2.8 billion to NIS 3 billion. The offering remains proposed, not completed.
For prospective investors, the change means a lower starting valuation than the earlier range. It also makes the proposed use of the proceeds important: the report says roughly one-third would be distributed to existing shareholders after the offering.
Infrastructure business is the listing candidate
The company is controlled equally by brothers Yossi Barazani and Dayan Bar. Globes reported that the proceeds would initially enter the company, with funds intended for ongoing operations, materials-production facilities, acquisitions and infrastructure expansion. A planned dividend would then distribute 33% to shareholders.
The business being offered includes road paving, bridges, interchanges, earthworks, railway infrastructure, underground utilities and tunnels. The owners’ real estate activities would remain private, according to the report.
Barazani reported first-half revenue of about NIS 402 million, up 43.5% from a year earlier, according to prospectus figures cited by Globes. The report put its active projects at 48 and future project revenue backlog at about NIS 1.96 billion.
Its 2026 forecasts call for revenue of roughly NIS 1.06 billion and net profit of about NIS 113 million. Those figures are company expectations, not completed full-year results.
The proposed terms still depend on completing the offering. Neither the valuation sought nor the fundraising target establishes the price investors will ultimately accept.
JBizNews Desk | Tel Aviv
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