Delta Galil Industries might just try its luck on Wall Street.
The Caesarea, Israel-based fashion company said it had confidentially filed a draft registration statement to publicly trade its shares in the U.S.
Delta Galil, which owns 7 for All Mankind, Splendid and other brands, is already publicly traded in Tel Aviv, with a market capitalization equivalent to roughly $1.5 billion. So far this year, the stock is up over 23 percent and inched up 0.8 percent to 20,250 shekels on Tuesday.
“The number of ordinary shares to be offered, the price range for the proposed offering and the timing of the offering have not yet been determined,” the firm said in a statement on Monday. “The U.S. initial public offering is subject, among other things, to market and other conditions and the completion of the SEC’s review process, and there is no assurance that the offering will be completed.”
Filing confidentially gives regulators time to look over the companies’ books and policies and suggest changes before the offering is revealed to the public.
For the six months ended June 30, Delta Galil reported that profits rose by 83 percent to $33.1 million as sales increased 4.1 percent to $922.2 million.
Isaac Dabah, chief executive officer, said at the time: “I am excited with the direction Delta is headed, as we benefit from a diversified portfolio and strategies focused on driving sustainable profitable growth. Our continuous commitment to product innovation continues to fuel growth for both our private label customers and our brands, creating a powerful flywheel of market and consumer insights that we believe will continue to support profitable growth in both pillars.”
In addition to its own brands, Delta Galil makes licensed goods under other brands, including Adidas, Wolford, Wilson, Columbia and Tommy Hilfiger.
There was a big rush of U.S. IPOs in 2021 as the market rebounded after the pandemic, but fewer offerings lately.
