The aim is to provide a solution for early-stage high-tech companies in Israel.
The Israeli government hopes to pass shortly a bill to set up a second stock market for small and medium-size businesses. Yesterday, the government approved the bill, which is in line with the recently published recommendations of the joint team of the Israel Securities Authority, the Ministry of Justice, and other bodies.
The Ministry of Justice hopes to introduce the bill for first reading in the current session of the Knesset, and to see it through second and third readings in the coming winter session. Government sources stress, however, that even after the legislation is passed, it will take time to set up the second stock exchange.
The bill provides for substantial relaxations for small and medium-size businesses as far as trading in their shares is concerned, in the hope of providing a better solution for high-tech companies in their early stages. The bill is jointly sponsored by Minister of Finance Moshe Kahlon and Minister of Justice Ayelet Shaked.
Published by Globes [online], Israel business news - www.globes-online.com - on July 16, 2018
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