In November 2010 Ofer Nimrodi, Chairman of the Israel Land Development Company, was able to raise 107 million NIS (almost 30 million dollars) in an IPO on the Tel Aviv Stock Exchange (TASE) for his latest venture, a subsidiary devoted to oil and gas exploration.
The new company, Israel Land Energy Ltd. is valued at 830 million NIS and owns 46.3% of
the licenses for Myra and Sarah gas exploration.
Israel Land Energy Ltd. is the most recent addition to the family of subsidiaries of the Israel Land Development Company which Ofer Nimrodi Chairs. The gas and oil exploration company joins five other segments of business that ILDC engages in, including real estate; residential construction; publications; advertising; and the hospitality industry, including the Rimonim Hotel chain found throughout Israel.