By Tom Knighton
SK Group is a holding company made up of brands like Israeli Weapon Industries and Meprolight. It’s privately held, which means you can’t just log onto your favorite stock trading site and pick up a few shares. However, the days of not being able to do that are limited, according to a report at Reuters.
Defense holding company SK Group is planning an initial public offering on the Tel Aviv Stock Exchange at a company valuation of 2 billion shekels ($565 million), Israeli financial news websites reported on Monday.
The SK Group, owned by Israeli businessman Samy Katsav, has a portfolio with holdings in several security and defense focused subsidiaries. Among them are Israel Shipyards, one of the largest shipbuilding and repair facilities in the eastern Mediterranean, and Israel Weapon Industries Ltd, which manufactures the Uzi submachine gun.
A spokesperson for SK Group declined to comment on any particulars of the plan.
The initial public offering (IPO) is currently set for mid-2018 and is reportedly being done to help fund SK Group’s planned entry into the Indian market. The company recently opened a factory in the Indian state of Madhya Pradesh in conjunction with Punj Lloyd, an Indian engineering outfit.
Whether this will have any kind of impact on the American gun market isn’t known for sure, but it seems unlikely that there will be any noticeable difference one way or another in the short term.
In the long term, stockholders could possibly pressure SK Group to suspend their forays into the American civilian gun market, which would create an impact. However, that’s unlikely for multiple reasons, up to and including that such hasn’t been the case for other publicly traded gun manufacturers. Ruger and Smith & Wesson are both publicly traded and neither has had any massive, concerted push to cut off Click to see the original article