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

FILE PHOTO: A man wears a protective mask as he walks past the New York Stock Exchange on the corner of Wall and Broad streets during the coronavirus outbreak in New York City, New York, U.S., March 13, 2020. REUTERS/Lucas Jackson/File Photo

(Reuters) - Israel's Meat-Tech 3D MEAT.TA, 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. (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 BYND.O, 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

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