While various economic concerns are still undecided about dual listing, the Pan-European stock exchange - EASDAQ - announced that four Israeli companies traded on NASDAQ would also be listed for trading on EASDAQ, which is trying to gain acceptance as the European answer to the US NASDAQ.
Check Point, Orckit, Mercury and Galileo will join the fifteen US companies that already have dual listings. They are Microsoft, Amazon, Apple, Cisco, Intel, Dell Computers, Amgen, E-trade, Oracle, Network Associates, Qualcomm, Sun, Yahoo!, Xeicon and MCI.
EASDAQ heads currently visiting Israel are trying to boost awareness among the capital market and Israeli companies, which, in fact, have recently started taking a great deal of interest in Europe, mainly in the new technology stock exchanges such as Neue Markt, and especially its German branch.
Only two Israeli companies, namely IT International Theatres and Super Com have so far issued on the EASDAQ computerised stock exchange. EASDAQ lists 66 companies with a total market value of $50 billion. This does not include those with a dual listing. Average daily turnover amounts to $104 million.
These figures do, of course, point to increase and growth on the EASDAQ, but it is still smaller than the Tel Aviv Stock Exchange, the companies listed on which have an aggregate market value of $73 million, trading at a similar average turnover. Also, compared to Germany's Neue Markt, where companies with an aggregate market value of $70 billion have issued, the EASDAQ is still small.
Published by Israel's Business Arena on 14 February, 20000