The company has engaged Poalim IBI to help it raise millions of shekels in Israel.
Brainstorm Cell Therapeutics Ltd. (OTCBB: BCLI), which develops adult stem cell technologies and therapeutics, today announced that it has engaged Poalim IBI Underwriting and Investments Ltd. (TASE:PIU), the underwriting arm of Poalim Capital Markets Ltd. and a subsidiary of Bank Hapoalim (LSE: 80OA; TASE: POLI) as its financial advisor to develop financing options for the company’s growth plan while exploring options for listing on the Tel Aviv Stock Exchange (TASE).
BrainStorm president Chaim Lebovits said, "Poalim IBI, a preeminent investment bank and leading underwriter and manager of public offerings on the TASE, provides the requisite expertise to help us explore appropriate options for achieving a successful listing of our subsidiary’s stock in Israel. This would enable BrainStorm and its subsidiary to expand their institutional and retail shareholder base in Israel and provide the company’s subsidiary with an important source of additional capital as it expands its clinical development activities both inside and outside of Israel.”
Brainstorm's share price fell 4.3% in New York today to $.0.23, giving a market cap of $20.56 million.
Published by Globes, Israel business news - www.globes-online.com - on August 2, 2010
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