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Business

Massivit 3D raises £36.6m through IPO

Massivit 3D Printing Technologies has raised ILS169.0m (£36.6m) via its initial public offering (IPO) on the Tel Aviv Stock Exchange (TASE) in Israel.

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Demand from institutional investors peaked at around ILS249.0m for the IPO

The provider of large-volume 3D printing systems drew plenty of interest during the IPO, with the offer to institutional investors receiving demand for around ILS249.0m.

Massivit says it will use the funds to support future innovation, while chief executive Erez Zimerman adds the company is “delighted” with the trust it has gained from the capital market.

“The demand we have witnessed as well as the investments by institutional entities testify to the market’s substantial evaluation for the solution that Massivit 3D provides and the technological value that we bring to the market,” Zimerman says.

Funds raised will be leveraged to continue innovating vital and disruptive technology that address pertinent market gaps

Gershon Miller, chief innovation officer and co-founder of Massivit 3D, adds: “The company is operating in multiple, rapidly growing markets which are expected to reach circa $73bn by 2025.

“We are also confident that our current technological developments will transform the manufacturing market as we know it, enabling many industries to expedite their production processes and lead times.

“As part of the company’s plan for growth, the funds raised will be leveraged to continue innovating vital and disruptive technology that address pertinent market gaps.”

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