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Shefa Yamim, Israel’s first and only gemstones explorer, is seeking to raise as much as $20 million in an initial public offering of a unit on the London Stock Exchange, according to two people familiar with the matter.
The Netanya, Israel-based explorer, which trades on the Tel Aviv bourse, seeks to complete the listing of its unit Shefa Yamim (A.T.M.) Ltd. in the coming months on London’s Alternative Investment Market, said the people, who asked not to be identified because the plan isn’t public. The Tel Aviv-based investment bank Aloni-Haft Ltd. is managing the offering, in which the unit would be valued at more than $100 million, the people said.