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Israel's Meat-Tech 3D confidentially files for U.S. IPO

Reuters
·1 min read

Oct 27 (Reuters) - Israel's Meat-Tech 3D, a company that is developing technology to create 3D-printed meat, said on Tuesday it has confidentially filed for a U.S. initial public offering.

The company did not specify the size of the offering, and said in a filing that the IPO would commence when market conditions would permit, following a U.S. Securities and Exchange Commission review. (https://prn.to/34xttd9)

Meat-Tech is developing an alternative to meat farming by producing industrially cultured meat, the company said on its website.

The filing comes amid increasing interest in the meat-substitute industry and scrutiny of traditional meat sources over ethical and environmental concerns.

Last year, Beyond Meat, one of the biggest names in the global meat-alternatives business, went public on U.S. stock markets. The company's shares are currently trading nearly three times their debut price. (Reporting by Ambar Warrick in Bengaluru; Editing by Shailesh Kuber)