Ecoppia sold for NIS 18m after NIS 1.3b TASE IPO

Israeli robotic photo voltaic panel cleansing firm Ecoppia (TASE: ECPA) has offered its enterprise actions to CEO Eran Dgani for simply NIS 18 million. The corporate held its IPO on the Tel Aviv Inventory Trade (TASE) in November 2020, when it raised NIS 282 million (after cash) at an organization valuation of NIS 1.3 billion and shortly afterwards its market cap rose to NIS 1.5 billion. The corporate’s share value has fallen 20% for the reason that begin of the week and 90% since its IPO.

RELATED ARTICLES

Photo voltaic panel cleansing co Ecoppia raises $13m

The ‘bubble’ pricing of 2020 and 2021 was primarily based on goals of Ecoppia conquering a big market which have pale. Dgani is shopping for Ecoppia’s growth, upkeep and advertising rights for the robotic system. What’s uncommon in regards to the deal is that Ecoppia has money of NIS 178 million in its coffers whereas its market cap is NIS 130 million.

Along with the cost for the exercise, Dgani’s personal firm can even give the general public firm a share of future income. If the exercise holds one other IPO, the general public firm can have an choice to buy shares at a reduction. Ecoppia mentioned that annual income of the offered exercise was about NIS 11.2 million, NIS 14.1 million and NIS 19.1 million within the years 2021, 2022 and 2023 respectively. Complete cumulative loss since its founding is sort of NIS 280 million.

Revealed by Globes, Israel enterprise information – en.globes.co.il – on March 11, 2024.

© Copyright of Globes Writer Itonut (1983) Ltd., 2024.