The New York Stock Exchange (NYSE) has launched a campaign to recruit Israeli companies to hold IPOs on it. The NYSE is also trying to interest Israeli investment institutions in investing in its stock instruments and other financial tools.
NYSE media relations manager Christiaan Brakman told "Globes" that the NYSE recognized the potential in Israeli economic sectors, and that it was actively seeking Israeli companies that meet the NYSE's criteria for holding IPOs and being traded on it.
Brakman said, "Within 18 months, we expect a number of Israeli companies to join the family of NYSE-listed companies. We're talking about manufacturing and financial companies that will join the six Israeli companies already traded on the stock exchange."
Four companies registered in Israel are listed on the NYSE: Blue Square Israel Ltd. (NYSE:BSI; TASE:BSI), Elscint Ltd. (NYSE:ELT), Koor Industries Ltd. (NYSE: KOR; TASE:KOR), and Tefron Ltd. (NYSE: TFR). Two other Israeli companies are also listed: Ormat Technologies Inc. (NYSE:ORA) (registered in the US) and Amdocs Ltd. (NYSE:DOX) (registered in Guernsey).
As a sign of the NYSE's growing interest in Israel, representatives of Israeli investment institutions and funds will visit the NYSE's historic building on Wall Street this week.
Published by Globes [online], Israel business news - www.globes.co.il - on June 5, 2005