Clal Biotech, Algomizer join TASE High-Tech Analysis Project


Edison and Frost & Sullivan publish regular analyses of the companies in the project.

The Tel Aviv Stock Exchange (TASE) has announced that two additional companies have recently joined its High-Tech Analysis Project. They will join the 20 companies already reviewed by two international companies - Edison, and Frost & Sullivan.

The additional companies are Clal Biotechnology Industries, which invests in R&D companies in life sciences and medical technology, and Algomizer, which markets and develops software for automation and optimization of marketing and advertising services on the Internet, to agencies and advertisers.

The companies already participating in the project are biomed companies Intec Pharma, Allium, Aposense, BioLight, BioLineRx, BiondVax, Brainsway, DNA Biomed, Kitov Cellect, Pluristem, Collplant and Redhill, and technology companies Ellomay, Energix, Vonetize, Nano Dimension, Safe T, Pointer and Foresight.

The TASE says that data from its research unit indicate that most of the companies participating in the project recorded a significant increase in trading volumes, compared to their volume in the months preceding publication of the initial analysis. Also, in dual-listed shares, trading volumes in the US also increased.

Trading turnover in most of the analyzed shares increased by 1.6 times and up to more than 10 times in this period (except for Foresight shares, where trading turnover increased 40 times, and Intec and Allium shares, where trading volumes declined during the period under review).

In addition, most companies recorded a significant increase in the holdings of mutual funds and Israeli institutional investors in the long term, and there was a greater interest of investors, which assisted in private placements and public offerings.

The participating companies enjoyed exposure to thousands of international investors from about 30 countries around the world, hundreds of which are institutional and sophisticated investors.

The project was launched in 2016 in order to raise the investors' level of knowledge of about technology and biomed companies and the markets in which the companies operate, thus creating appropriate pricing and increasing the exposure of investors from Israel and abroad.

In order to maintain professional, independent and unbiased analysis, the analyzed companies signed an agreement with the TASE to receive the analysis services for an obligatory period of two years. The companies cannot withdraw from the project during this period. The analysis is funded by the companies, surveyed with funding from the TASE and the Chief Scientist.

The analyses are published in the Magna and Maya sites in English and also include a Hebrew summary for investors in the local market. The analyses will be published, at least four times a year, following the publication of the companies' financial statements. In addition, updates will be published upon the occurrence of a significant event in a company that requires updating in the latest analytical work. The English analyses are published by the research companies worldwide, through the main information distributors, and large distribution boards.

TASE Clearing Houses recognized as QCCP

Separately, the Israel Securities Authority has announced that the TASE Clearing Houses are to be considered a Qualifying Central Counterparty (QCCP) in accordance with CPMI-IOSCO's Principles for financial market infrastructures (PFMI).

The decision of the Israel Securities Authority to recognize the clearing houses as qualified, is the product of a two-year process during which a large number of activities were carried out to improve the risk management system, corporate governance and other areas of activity in the TASE Group, similarly to what has been done in the world's leading clearing houses in recent years.

The recognition attests to reduced risks, the strength of the clearing houses and their activity in accordance with international standards.

In addition, the TASE clearing houses will continue to be considered by the Bank of Israel as a qualifying central counterparty, and accordingly, the capital allocation of banking corporations due to exposure to TASE clearing houses will remain reduced. The reduced allocation and the certainty thereof will allow banking corporations to increase their activity at Israeli capital market.

Prof. Shmuel Hauser, Israel Securities Authority Chairman, said, "The adoption of international standards and their application to TASE clearing houses is another step by the ISA to strengthen the capital market and the status of Israeli regulation as meeting international standards".

TASE CEO Ittai Ben Zeev said, "Compliance with these standards improves existing infrastructure in the TASE Group and will enable the continued successful implementation of the strategic plan of the Tel Aviv Stock Exchange."

Published by Globes [online], Israel business news - - on July 3, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018