Foreign investment on the Tel Aviv Stock Exchange (TASE) is down again, but the flow of foreign investments in US stock exchange IPOs by Israeli companies continues unabated. Bank of Israel figures published today show a $84 million fall in foreign investment in TASE-listed companies, following a $265 million increase in January-March.
The decline in foreign investment on TASE is one of the reasons for increased foreign currency demand and the strengthening of the dollar.
At the same time, foreign investment in Israeli companies holding IPOs on the primary market overseas, notably on the US stock exchange, was up $212 million. Foreign investors put a total of $2.1 billion for securities issued on overseas primary markets in January-April. An overall $3.9 billion were raised in 1999.
A net of $60 was realized since the beginning of the year, with $243 million being realized in the past six months.
Foreign investors continue to display interest in Israeli real estate. Net direct investment in real estate - plots and apartments - was $41 million since the beginning of the year. $218 million was invested in real estate in 1999.
Overall investment in Israeli securities and real estate in April was $741 million. A record $9 billion was invested since the beginning of 1999.
Published by Israel's Business Arena on 28 May, 2000