The satellite service company may also introduce a partner. The CEO of the company: "Foreign entities are already expressing interest." Plans to launch two more satellites in the next 5 years
The onslaught of IPOs on the Tel Aviv Stock Exchange is increasing, and will soon face a new record. This is against the background of the plan of Halal Communications to raise approximately NIS 650 million in the local market, similar to the raising it carried out in 2000. The raising will be done through bonds, credit from the banks and issuing shares.
The company is also considering bringing in a partner. "Very soon we will reach the capital market, but before that we must formulate an overall picture of our future activity, and based on that determine the nature of the recruitment", said David Pollak, CEO of Halal Kommunikation. Pollak notes that a number of foreign entities are expressing interest in investing in the company. However, Pollak is careful in his words and mentions that the company's previous fundraising, in the amount of NIS 150 million, was not carried out casually. In 2000, the company had to carry out the recruitment in difficult market conditions, against the background of the falls in the world's capital markets.
The expected recruitment is part of the company's expansion plan in which it will send two additional satellites - "Amos 3" and "Amos 4" - during the next 5 years. The cost of each satellite is estimated at about 140 million dollars. The current fundraising is expected to finance the launch of "Amos 3". Two years later, the company plans to raise additional capital to finance "Amos 4".
also active in the USA
Halal Communication deals in the provision of satellite services, and is owned by Israel Aerospace Industries, Eurocom and the Mer Group. The company has extensive operations in Central and Eastern Europe, and it also provides services to the East Coast of the United States. The company also provides satellite services to Yes.
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