The Ticker / Shefa Yamim in Diamond Quest, Inspired by Offshore Gas Finds and Lubavitcher Rebbe

FIMI in talks for control of industrial gas supplier Oxygen and Argon Works; Cosmetic device firm Home Skinovations eyeing IPO in United States.

Reuters

FIMI in talks for control of industrial gas supplier Oxygen and Argon Works

FIMI Opportunity Funds is in talks to buy a 51% stake in Oxygen and Argon Works, a supplier of industrial gases, for 180 million shekels ($47.7 million). The stake in the privately held company would be attained through the purchase of stock from a number of families with shares in the firm. FIMI’s efforts to acquire control of Oxygen and Argon Works follows its acquisition last month of a controlling stake in Hadera Paper. Oxygen and Argon Works, the country’s largest industrial gas supplier, has production facilities in Caesarea, Kiryat Gat and Migdal Ha’emek. (Yoram Gabison)

Cosmetic device firm Home Skinovations eyeing IPO in United States

Home Skinovations, a cosmetic medical device company based in Yokne’am, is renewing plans for an initial public offering of shares in the United States at the beginning of next year, the firm’s founder and CEO, Moshe Mizrahi, said on Tuesday. The company had filed a confidential IPO prospectus with the U.S. Securities and Exchange Commission in 2013, in advance of a plan to raise $75 to $80 million at a company valuation of about $300 million, but ultimately scrapped the plan. Founded in 2006 by Mizrahi and Amir Waldman, the company – which has a staff of 105 – develops and produces devices marketed under the Silk’n brand for permanent hair removal, antiaging treatment and the treatment of acne. The company expects sales this year of $130 million, Mizrahi told a conference on high-tech financing on Tuesday. Yokne’am, in the north, has been home to a number of companies in the cosmetic medical device field. (Inbal Orpaz)

Shefa Yamim in diamond quest, inspired by offshore gas finds and Lubavitcher Rebbe

Explaining the 83 million shekels ($22 million) that Shefa Yamim has spent on exploration activities near the Kishon River in the north in its continuing quest for diamonds, the company noted that energy specialist Yossi Langotsky was also called crazy for suggesting that Israel had major offshore natural gas finds in its economic waters before gas was actually found. Shefa Yamim – which is controlled by its CEO, Abraham Taub, and is engaged in the search for precious stones – held an investors’ conference yesterday at the Tel Aviv Stock Exchange, where the company’s stock is traded. Taub, who was associated with the late leader of the Chabad movement, Rabbi Menachem Mendel Schneerson, said the rabbi had made a prediction that Taub interpreted as a call to explore for diamonds. Company chairman Shimon Heiblom said the company, which has found other precious stones in the Kishon River area, is also basing its activities on the recommendation of senior geologists. (Eran Azran)

Tel Aviv Stock Exchange up sharply following rare ray of hope in Greece

Shares on the Tel Aviv Stock Exchange rose sharply yesterday, taking its lead from European stocks buoyed by reports that Greek Prime Minister Alexis Tsipras had agreed to most of the demands of Greece’s creditors, although Greece also missed its June 30 payment to the International Monetary Fund. The Tel Aviv-25 index rose by 1.51% to 1,673.69 points, while the Tel Aviv-100 closed 1.53% higher at 1,440.00. The Banks-5 index gained 0.8%, while the Real Estate-15 index was up 2.4% on the day. It was the Communications Index, however, that led the rally, gaining 3.25%, with the help of a 3.92% jump in Bezeq shares – and despite drops in the stocks of cellular-service providers Cellcom Israel and Partner Communications. Volume on the day’s trading was 1.11 billion shekels ($294 million). For the first six months of the year, the Tel Aviv-index was up 12%, while the Tel Aviv-100 added 10% in value between January and June. The Oil and Gas index bested them, rising 20%. (Dror Reich)