Cando Drones (TASE: CNDO), controlled by Rami Levy Chain Stores Hashikma Marketing 2006 (TASE: RMLI) with a 30.5% stake, has completed an IPO on the Tel Aviv Stock Exchange at a valuation of NIS 102 million. Trading in the shares will begin within the next few days.
In the offering, led by Eximus Capital Markets, Cando Drones raised NIS 19 million in exchange for an allocation of 20% of its shares. The company also issued warrants to the participants in the offering that could raise the proceeds to NIS 14 million if they are fully exercised.
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"Completion of the offering represents an important milestone in the development of Cando Drones, and will enable us to expand our activity in Israel and overseas, to form collaborations with defense security, military, and civilian customers, and to continue developing autonomous drone systems and advanced aviation solutions," Cando Drones CEO Yoely Or said. "We operate in a growing market , with increasing demand for smart operational aviation solutions and we believe that the defense and technological experience of the company’s management, together with the existing orders backlog, place Cando Drones in an optimal position for accelerating its growth rate."
In 2025, Cando Drones posted a loss of NIS 11.9 million on revenue of NIS 7 million, 11% higher than revenue in 2024. The company has an orders backlog worth NIS 37 million, most of which it expects to fill within the next two years.
Published by Globes, Israel business news - en.globes.co.il - on July 8, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
