Underwriting and Issuing







Epsilon Underwriting & Issuing specializes in raising equity and debt and other securities in the Israeli capital market. Our services includes initiation and managing of public and private offerings, advisory and providing underwriting and distribution of securities.

Epsilon Underwriting & Issuing is held by Epsilon Investment House (IDB financial arm) and Union Bank of Israel.

Our  management includes knowledgeable professionals who possess extensive experience in Israel’s capital markets and specializes in constructing and marketing quality products, custom tailored to the Israeli market and clients’ needs.


Our services

  • Raising capital for public and private companies
  • Managing bonds and equity offerings
  • Distributing securities
  • Underwriting
  • Raising private debt from institutional investors and debt advisory services


Management team


Eyal Grinbaum (CPA), CEO

Eyal has executive management positions in publicly held companies including CEO of Discount Underwriting & Issuing between 2010-2015, Deputy CEO and CFO of Medcon (Mckesson corp), Deputy CEO of Leadmas Properties and Director at Analyst Funds. Eyal is a Certified Public Accountant and holds a B.A. (Hons.) in economics and accounting from Hebrew University as well as an MBA in finance from Tel Aviv University.


Udi Toibin, Deputy CEO

Udi has a vast experience of over 15 years in the Israeli capital market and in underwriting & Issuing. Udi has a vast experience in international related deals. Udi had served as VP and Deputy CEO of Discount Underwriting & Issuing between 2006-2015. before that Udi served as an analyst and Investment banker at Tamir Fishman. Udi holds a B.A. in finance (Hons.) from IDC as well as a LLM in laws from Bar-Ilan University.


Yoav Fogel (Adv.), VP

Yoav has vast experience in legal and regulatory aspects of the Israeli capital market, as well as securities and corporate laws. Before joining Epsilon, Yoav served as a legal counsel in Discount Capital Markets between 2012-2015. Before that Yoav served as legal counsel of Azorim Construction, and as an attorney at the leading law firm Yigal Arnon. Yoav holds an LL.B (Hons.) and a B.A. (Hons.) in business administration from the College of Management.


Yair Drori, VP

Yair has a vast experience of over 11 years in the Israeli capital market and in OPM management and  Analytics Issuing. Before joining Epsilon, Yair served as a Chief Analyst in Tafnit Discount between 2011-2016. before that Yair served as an Analyst and Portfolio manager at Tamir Fishman.

Yair holds a B.A. (Hons.) in Economics and Philosophy from Hebrew University.


Tzachi Bager, Issuance Manager

Mr. Bager, joined Epsilon Underwriting as Issuance manager in 2016. Before joining Epsilon, Tzachi sarved as a financial controller in Psagot Mutual Funds and was a senior auditor in Ernst & Young LLP, in the Capital Market division.

Tzachi holds a B.A in Business Administration and Accounting as well as M.B.A Specializing in finance, accounting and financial management for accountants from the College of Management.



Contact Us

Phone  +972-3-7450515

Fax       +972-73-2112290

Email   Hitum@Epsilon.co.il

Address 40 Einstein st., Ramat Aviv Mall Tower, Tel Aviv, 6910203



Personal Meeting

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