| Ticker: MATVY | 42 Pinkas Street, North Industrial Area | |
| Exchange: NASDAQ-National Market | Netanya, Foreign 42134 | |
| Industry: Service | 9729602160 |
| Type of Shares: | American Depositary Receipts | Filing Date: | 5/17/96 | |
| U.S. Shares: | 2,700,000 | Offer Date: | 6/12/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $18.50 - $20.50 | |
| Primary Shares: | 2,700,000 | Offer Price: | $18.50 | |
| Secondary Shares: | 0 | Gross Spread: | $1.20 | |
| Offering Amount: | $52,650,000 | Selling: | $0.66 | |
| Expenses: | $1,800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 13,511,000 |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Oppenheimer & Company, Inc. | Co-manager | (212) 667-7402 |
| Smith Barney Inc. | Co-manager | (718) 921-8473 |
| Auditor: Kesselman & Kesselman | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/96 | |||
| Revenue: | $79.67 | $21.29 | Assets: | $172.08 | |
| Net Income: | $6.54 | $2.58 | Liabilities: | $129.38 | |
| EPS: | $0.60 | $0.24 | Equity: | $42.71 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a leading operator and provider of broadband CATV services in Israel. As one of five CATV operators in Israel, the company operates in exclusive franchise areas which cover approximately 25% of Israel's households. As of March 31, 1996, the company provided CATV services to 25% of all CATV subscribers in Israel. The company has achieved consistent growth in subscribers, subscriber penetration, revenue and EBITDA. The company commenced serving subscribers in 1990. The total number of subscribers has grown from approximately 62,000 as of December 31, 1991 to approximately 229,000 as of March 31, 1996 and subscriber penetration has grown from approximately 51% to approximately 69% during the same period. Revenue has increased from NIS 41.3 million for the year ended December 31, 1991 to NIS 247.9 million for the year ended December 31, 1995 and to NIS 252.9 million for the twelve months ended March 31, 1996. |
| Use of Proceeds |
| The proceeds from the offering will be used to repay current maturities of its long term debt and all short term debt, working capital and for general corporate purposes, including the continued expansion of its cable network. |
©1996 IPO Data Systems, Inc. - All rights reserved.