IC was founded in 1968 by the Government of the State of Israel as a vehicle to attract the participation of foreign investors in the economic development of the country. Shares of the company were first offered to private investors in 1969 and the Company was listed on the Tel Aviv Stock Exchange in 1982. In 1999 the current controlling shareholder group, owned by entities related to Mr. Idan Ofer, acquired the majority of the Company's shares.
On January 7, 2015, IC completed a strategic separation and spun-off its holdings in IC Power, Qoros, ZIM, TowerJazz (Nasdaq:TSEM, TASE:TSEM) and IC Green into a new entity named Kenon (NYSE: KEN, TASE: KEN).
On March 2019 IC announced it is updating the business strategy. In alignment with the Company's natural purpose, as an active investment company with solid business foundations, the updated strategy of the company includes, making new investments in high quality companies, in various industries, along side our existing investment in ICL and ORL, all for the purpose of maximizing value to our shareholders.