"Iron Dome has highlighted Israel's technological ability"

Avivit Mannet-Kalil
Avivit Mannet-Kalil

Oppenheimer Israel co-CEO Avivit Mannet-Kalil: There is huge admiration for Israeli technology.

"We send our US market colleagues pictures from the stairwells during a missile alert, and they can't believe production and trading is proceeding in Israel as usual. Israeli flexibility and resiliency are on display for everyone to see," Oppenheimer Israel co-CEO Avivit Mannet-Kalil said today.

She added that despite Operation Protective Edge in the Gaza Strip, foreign investors in Israeli shares listed overseas are not changing their attitude towards these companies. "It's just like what we're seeing with the shekel-dollar exchange rate. It's a real puzzle. I think it also reflects the situation here, and there won't be any effect on trading in Israeli shares overseas," she marvels.

"We see shares of Israeli companies responding more to quarterly results than to the operation. Even in conference calls with analysts, there are very few questions about it. It's really surprising," Mannet-Kalil notes.

According to Mannet-Kalil, "Furthermore, even this week, at the height of tension and anxiety, six Israeli companies are going ahead with Wall Street offerings: some IPOs and some secondary offerings. A lot of things are happening in the background. Things are continuing as usual on the US front. There are orders from foreign investors for offerings by Israeli companies to be listed on Nasdaq. There's a never-ending and irrepressible stream here."

Mannet-Kalil also finds a future positive aspect in the effects of the current situation. "If venture capital funds start raising new funds, I think they'll find a lot of good will and money searching for a path to Israeli genius," she says. According to her, the reason is Iron Dome: "The Iron Dome and Trophy IV systems revealed the stunning technological capabilities in Israel. People see a country with dozens of missiles exploding every day that is successfully defending itself. That is arousing a wave of admiration for Israeli technology. From my perspective, it will have a positive effect on capital raising by venture capital and technological startups."

"Globes": Do you think this will happen when the current situation ends?

Mannet-Kalil: "These things are naturally long-term processes. While venture capital funds are having difficulty raising capital today, the exposure of the technology will arouse interest once again."

What do you hear from foreign investors and analysts who work with you?

"All in all, we're getting a great many telephone calls form sympathetic people expressing concern about us. It's a lot more than that, though. I don't want to sound artificial, but there's a kind of admiration here: how a country under attack like this continues to operate as usual.

"For example, someone asked about the Orbotech Ltd. (Nasdaq: ORBK) building, and whether it is within missile range. I explained that there are orderly procedures and work is also continuing in orderly fashion at other companies. Obviously, no one expects ordinary life to go on in communities in southern Israel, but Americans are amazed when they see that things are going on as usual everywhere from Yavne northwards.

Published by Globes [online], Israel business news - www.globes-online.com - on July 29, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

Avivit Mannet-Kalil
Avivit Mannet-Kalil
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