Sources inform "Globes" that Nova Measuring Instruments (Nasdaq: NVMI) is also listing its shares on the Tel Aviv Stock Exchange (TASE). Nova, whose products are designed for the semiconductor industry, began the dual listing process several months ago, but met with delays. "There were a number of legal problems we had to solve," explains Nova Measuring Instruments CEO Dr. Giora Dishon.
Dishon adds, "When the company was founded, there were several kinds of shares. In contrast to Wall Street, the TASE allows listed companies to have only one type of share. We're working on it, though, and a shareholders meeting will approve dual listing in a few more weeks.
"It's reasonable to assume that Nova's shares will be listed for TASE trading within a month or two."
"Globes": What actually convinced you to go for dual listing?
Dishon: "The main advantage of dual listing is increasing trading in the share. Trade volume is low at the moment, and we believe that mutual funds and other concerns, which formerly couldn't buy the share, because it was only traded on Wall Street, will now be able to buy it.
"Furthermore, we will gain significant exposure. Overseas, we are a small company, and it is very hard to get exposure. On the TASE, we are of course a bigger factor, and our exposure will reflect that."
Published by Globes [online] - www.globes.co.il - on April 28, 2002