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Via completes IPO with more Israeli flotations likely to follow
En.Globes.Co.Ilยท 2025-09-14 16:23
Core Insights - Via Transportation successfully completed its IPO, with shares rising 7.63% to $49.51, resulting in a market capitalization of $3.937 billion [1] - The reopening of capital markets for IPOs is driven by expectations of lower interest rates and improving economic conditions in the US [2][5] - Via's business model focuses on providing mobility management systems for public transport, primarily serving local authorities in the US [6][7] Company Performance - Via has reported growing revenue but continues to incur significant quarterly losses, indicating a focus on achieving profitability [2] - The company has raised nearly $900 million in private investments prior to its IPO, with a valuation increase from $2.93 billion to $3.03 billion between 2021 and 2023 [9] - Despite impressive revenue growth, Via's valuation has only marginally increased over the past four years, reflecting challenges in the market [9] Market Context - Other Israeli companies are preparing for IPOs, including Lendbuzz, Armis, and VAST Data, indicating a trend of increasing activity in the capital markets [3][5] - The anticipated growth in the US economy and expectations of interest rate cuts are encouraging investors to support newly listed companies [5] Investor Insights - Early investors in Via, such as Pitango and 83North, are significant beneficiaries of the IPO, with substantial returns on their investments [10][11] - Exor Ventures is the largest shareholder in Via, holding 18.7% of the company's shares, valued at $736 million [12] - Some investors, like Mori Arkin and the Vertex Fund, are experiencing lower returns due to their investment timing relative to Via's valuation changes [12]