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New standard listing: Sivota seeking Israeli technology deal

Sivota is a shell that wants to acquire Israel-based technology businesses, although it will assess companies in other countries. The important person in the set-up is Ziv Ben-Barouch, who has decades of experience in assessing and investing in technology companies, most recently through Pereg Ventures.

This is a tiny company and will have to raise much more cash if it finds a deal. Even due diligence on technology companies can be costly. It could take a while to find a suitable target. The prospectus states that investors will not be asked whether the company should continue or be wound up – this is offered by some other shells.

The share price has risen to 112.5p (105p/120p) but the spread is relatively wide. There were 4,630 shares traded on the first day, suggesting that this m...

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