The digital insurance group WeSure Global Tech has successfully completed an initial public offering • The company has raised the capital in favor of penetrating the US market
The Tel Aviv Stock Exchange // Photo: Yehoshua Yosef
The technology and insurance group
WeSure Global Tech
, which holds 100% of the share capital of the digital insurance company Vishur Insurance Company Ltd. (WeSure), has successfully completed an initial public offering (IPO) on the Tel Aviv Stock Exchange, and in the coming days the company's shares will begin trading.
As part of the offering, the company received significant excess demand both at the institutional stage and due to the public.
The company raised an amount of NIS 80 million in the institutional phase and an additional amount of NIS 5 million in the public phase in exchange for approximately 22% of its shares.
In total, the company raised NIS 85 million in an issue that reflects a company value of NIS 385 million, after the money.
A number of leading institutional entities in the Israeli market, as well as foreign investors, took part in the offering.
As part of the public phase of the offering, high excess demand was recorded, in the amount of NIS 72 million, significantly higher than the amount of NIS 5 million that the company sought to raise at this stage (so that the relative allocation ratio was about 6.96%).
The company's IPO was led by the underwriting firm Poalim IBI, accompanied by attorneys Shoni Albeck, Michal Nissani and Yotam Kleiman from the FBC law firm.
The company set out to raise capital in order to accelerate the group's business development plans and in this context expand the company's areas of activity and market share in Israel as well as prepare to enter operations in the US and Europe in the coming years. US Stock Exchange).
Vishor launched its business operations in 2019, the company is controlled by Emil Winshel and Nitzan Tzair-Harim, both senior figures in the Israeli insurance industry with over two decades of experience in the insurance and finance industry.
The company and its subsidiaries were established with the aim of leading the digital and technological revolution, which has taken place in recent years in almost all areas of life, including the field of conservative insurance, first in Israel and later in other countries around the world.
