Opko Health Inc. (NYSE: OPK; TASE: OPK) and Perrigo Company (NYSE:PRGO; TASE:PRGO) have major operations in Israel.
Foreign companies can enjoy the status of a big fish in a small pond on the Israeli market.
“As commercialization of Lymphoseek grows globally, we are gratified with the opportunity to join many top companies as part of the TASE and our expected inclusion in their TA-75, TA-100, TA-BlueTech, TA-Tech-Elite and TA-Biomed indexes,” said Rick Gonzalez, President and CEO of Navidea. "We believe this dual listing will facilitate access to an emerging international capital market, further diversify our shareholder base in a region with growing biotech and pharma industries, and expand our exposure and access to the Israeli investment community."
TASE CEO Yossi Beinart said, “We welcome Navidea Biopharmaceuticals to the Tel Aviv Stock Exchange Dual Listing, and believe that this is a recognition of the Biomed sector’s special position at the Tel Aviv Stock Exchange. Navidea joins a group of 46 cross-listed companies entitling them to significant benefits including, added exposure among Israeli investors, extension of the trading day, investment by Exchange Traded Product vendors, and easy access to institutional and retail investors as well as to global growth companies.”
Navidea Biopharmaceuticals is in Israel due to the efforts of Adv. Ilan Gerzi, senior partner at law firm Pearl Cohen Zedek Latzer Baratz, which has experience in the field in part through Opko - together with the firm's senior associate Tammy Hevrony Zoppo, as well as financial advisor to the deal Uri Ben Or.
Navidea had revenue of $6 million in 2014 and expects double that amount in 2015.
Published by Globes [online], Israel business news - www.globes-online.com - on September 2, 2015
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