Tnuva revives IPO plans at a valuation of over $4 billion

Tnuva revives IPO plans at a valuation of over $4 billion

The food giant has begun preparing a new prospectus, targeting a listing in the first half of 2027. The proposed valuation would exceed the NIS 10 billion sought in its previous attempt, which was shelved in 2026.

Tnuva is renewing preparations for an initial public offering (IPO). Calcalist has learned that the company has begun drafting a new prospectus in recent weeks, with the aim of completing the offering in the first half of 2027.

The law firm Meitar is preparing the prospectus, and the company is expected to begin a series of meetings with leading underwriters in the coming weeks. Although the board of directors has not yet made a formal decision, management has launched preparations in coordination with the Chinese shareholders and the kibbutzim. The shareholders may also seek to sell part of their holdings as part of the offering, an issue that has been a source of disagreement in the past, particularly over how many shares each party would be allowed to sell.

Tnuva, which is owned by China's Bright Food (76%) and the kibbutz purchasing organizations (24%), is expected to seek a valuation of approximately NIS 13 bi...