The company will become the first Ltd the first Israeli company to perform a dual listing between the London Stock Exchange and Tel-Aviv Stock Exchange XTL Biopharmaceuticals (LSE: XTL) is to dual list in Tel Aviv. The company has announced that it will file a registration document with the Israel Securities Authority (ISA) today in connection with the proposed dual listing of its shares on the Tel Aviv Stock Exchange (TASE).
Trading in XTLbio shares on the TASE is expected to start on Tuesday, 12 July 2005. The company is not conducting an offering in connection with the listing.
XTLbio said that its current market capitalization would enable it to be included in the Tel Aviv 100 and Tel-Tech indices.
The company said that dual listing would enable Israeli and international investors who currently do not trade shares in the UK because of restrictions, costs, or time differences, to trade in XTLbio shares.
XTLbio interim chairman Michael Weiss said, "We are delighted to be the first Israeli company to perform a dual listing between London and Tel-Aviv. The listing in Tel-Aviv will provide our Israeli shareholders and potential new investors with the ability to trade our shares locally in their own currency. We look forward to completing our listing on Nasdaq in the near future so as to enable US investors to trade our shares in the US."
Published by Globes [online], Israel business news - www.globes.co.il - on July 7, 2005