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Travel Agency Talma Heads for $286 Million IPO in Tel Aviv
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by Golan Hazani / CTech
Israelis enjoy themselves at the beach in Tel Aviv, April 9, 2019. Photo: Reuters / Corinna Kern.
CTech – Israeli travel agency Talma Travel and Tours, the parent company of flight search engine Alice, is heading for an initial public offering on the Tel Aviv Stock Exchange, aiming towards a NIS 1 billion (approximately $286 million) valuation, one person familiar with the matter who spoke on condition of anonymity told Calcalist.
According to that person, the IPO is planned for May 2020, based on the company’s 2019 financial reports. Talma’s prospectus is being prepared by Tel Aviv-based law firm Fischer Behar Chen Well Orion & Co., with assistance from the company’s accountants at Ernst & Young, the person said.
Talma intends to raise NIS 250 million (approximately $72 million) through its IPO with at least part of the sum raised through an offer for sale, the person said.
Founded in 1987, Talma employs around 500 people in offices in Israel, the US, and the UK. Talma’s search engine, Alice, lets users search for flights to various destinations on set or flexible dates, offering the most attractive deals. The search engine uses technologies developed by startups controlled by Talma that will not be part of the IPO, including flight and hotel booking startup Smartair TLV, for which Talma led a $6 million round in July.
