Israel Plans Up to 30% Rafael Stake Sale in US IPO Valued at 60 Billion Shekels
RFL•Israel plans to sell up to 30% of Rafael Advanced Defense Systems through a US IPO or dual listing by year-end, valuing Rafael at around 60 billion shekels. Company executives will visit the US in mid-July to assess listing options under flexible US disclosure rules.
1. Listing Exploration and Rationale
Israel is exploring listing Rafael Advanced Defense Systems in the United States to sidestep stricter domestic disclosure requirements and access deeper capital pools. A mid-July delegation of government and company officials will evaluate primary versus dual listing structures on US exchanges.
2. Stake Sale and Valuation
The government aims to sell up to 30% of Rafael by year-end, valuing the company at approximately 60 billion shekels. Proceeds are intended to bolster the national budget amid elevated military spending and rising fiscal deficits.
3. Strategic Implications and Next Steps
US regulators may grant flexibility on classified-project disclosures, benefiting Rafael’s Iron Dome and Arrow systems. Meetings with investors, underwriters and regulators will refine listing structure, subsidiary inclusion and final timing.
