Delta Galil Industries, a global manufacturer and marketer of branded and private label apparel products, has taken the first step towards a US initial public offering (IPO) by confidentially submitting a draft registration statement on Form F-1 to the US Securities and Exchange Commission (SEC).
The company's intention to go public with an offering of its ordinary shares is subject to market conditions, other factors, and the completion of the SEC's review process.
The company has not yet disclosed the number of shares to be offered or the price range for the proposed offering. It also emphasized that there is no certainty that the IPO will be completed.
The timing, size, and terms of the offering will likely depend on a variety of factors including market conditions.
Delta Galil's move to file confidentially allows it to withhold financial and other sensitive information from the public until closer to the time of the IPO.
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