The court docket has permitted the sale of Israeli packaging firm Highcon Techniques (HICN) for simply NIS 2.5 million, lower than 5 years after it held its IPO on the Tel Aviv Inventory Change (TASE) for greater than NIS 500 million. When the sale is accomplished, the corporate can be owned by traders led by Israeli businessmen Roy Ben Yami and Ami Lustig, the house owners of the LR Group, via an organization that they’ll arrange within the US.
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The court docket’s ruling comes after the Israel Innovation Authority, which has awarded the corporate grants over time, opposed in latest weeks a transfer promoted by the court-appointed trustee for the corporate, after it bumped into money movement difficulties at first of the 12 months. Now, after the events have reached agreements that royalties of as much as NIS 3 million can be paid to the Authority, the inexperienced gentle has been given to finish the transfer.
Highcon develops and manufactures digital die chopping and creasing programs for submit print processes within the folding carton and corrugated carton business. The corporate held its TASE IPO in December 2020 with excessive expectations when Highcon chairman Shlomo Nimrodi instructed “Globes” that the corporate had developed disruptive know-how, which he believed would revolutionize the packaging manufacturing market worldwide. Highcon got here with outstanding traders, together with serial entrepreneur Benny Landa, who has in depth expertise on this planet of printing, and Erel Margalit’s JVP enterprise capital fund.
Since then, like many tech corporations that floated on the TASE at the moment, the corporate’s inventory has misplaced nearly all of its worth, after it struggled to point out important gross sales in recent times, whereas recording heavy losses and damaging money movement.
Printed by Globes, Israel enterprise information – en.globes.co.il – on July 29, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
