Israel weighs Wall Street listings
Photo: Leo Correa /AP/TT

Israel weighs Wall Street listings for defense giants IAI and Rafael

Israel is considering listing two state-controlled arms manufacturers on Wall Street: Israel Aerospace Industries (IAI) and Rafael Advanced Defense Systems.

Representatives from the Israeli government and the two companies are planning a trip to the United States in mid-July to take a closer look at the conditions, Bloomberg reports, citing a government source.

Stricter accounting requirements on the Tel Aviv Stock Exchange are prompting consideration of a listing in New York.

The Israeli government plans to sell up to 30 percent of the shares in the two companies, which are behind the Arrow missile system and the Iron Dome air defence system, before the end of the year.

IAI has previously received the go-ahead for privatization, while Rafael is still waiting for it. Both posted record revenues last year, with order books of $30 billion and $20 billion, respectively.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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