Israeli driver safety co SaverOne mulls Nasdaq offering

1 year, 4 months ago - 26 March 2021, globes
The company has developed a system takes over the driver's telephone and prevents use of dangerous applications.

Less than a year after its IPO on the Tel Aviv Stock Exchange (TASE), Israeli driver safety company SaverOne is considering a Nasdaq offering, or at least listing its shares on Wall Street.

SaverOne has developed a system that it says represents a unique solution to the problem of distraction when driving from use of mobile telephones. The system takes over the driver's telephone and prevents use of dangerous applications.

Since SaverOne's IPO in June 2020, the company's share price has risen 80%, giving the company as market cap of NIS 200 million.

SaverOne said, "Due to enquiries that the company has received from American investors about investing in the company's shares and regarding listing shares on Nasdaq, and because the company is expanding its activities overseas, the copany's board has decided to set up a committee to examine aspects of an offering and or listing on Nasdaq."

SaverOne ended 2020 with NIS 316,000 revenue, up from NIS 85,000 in 2019. The company reported a net loss of NIS 13.6 million, after reporting a net loss of NIS 9.4 million in 2019.

SaverOne's CEO is Ori Gilboa, and VP Business Development and Director of International Operations is Gil Sheratzky.

Support Ukraine