The owners of Enzymotec sell shares worth $116 million
Galam Group Limited owned by Kibbutz Ma'anit has sold a
quarter of its shares in Enzymotec, thereby reducing its holding from 30% to
22% . The
company 's sales grew by nearly 60 % in the fourth quarter of 2013 compared
with the previous year and reached 18.5 million for the three months period.
The operating profit increased by nearly 50%. The company forecasts that 2014 revenue will reach $88 to
Enzymotec was valued at $ 546 million after it raised $
63 million in September 2013. The sale of part of the company is expected to
reach an amount of $116 million, of which about $46 million will be paid to
Galam Group and the balance to other shareholders.
The share price has nearly doubled
from its IPO price of $14 in September 2013. Since the offer for sale was
announced Enzymotec's share price has risen 8%, reflecting investors'
confidence in the company's future and ability to maintain its growth rate.
Enzymotec is a developer of lipid-based products and
solutions for the nutritional and healthcare markets,
Several Enzymotec executives also participated in the offer
for sale. President and CEO Dr. Ariel Katz sold shares for $4.6 million, while Deputy chairman Yoav Doppelt sold shares for a gross $1.4 million.
The leading product of the company – InFat
- is used as an additive to milk
substitutes , and is a vital component and a parallel additive to human milk .
Another product contains omega- 3. Other supplements in this line of products are
designed for the treatment of memory disorders in adults and for the treatment
of excess dietary lipid ( triglycerides) associated with an increased risk of