Is the Tel Aviv Stock Exchange expanding overseas? The exchange, headed by Ittai Ben-Zeev, is examining the possibility of buying the business of the Cyprus Stock Exchange, which is undergoing privatization. Should the move, which is in initial stages, go ahead, it will be at a valuation in the tens of millions of euros.
Earlier this year, the Cypriot House of Representatives unanimously passed a law for the privatization of the local stock exchange, which is currently state-owned. Within the next few months, a tender will be published for the sale of its business to a strategic buyer that will also run it. A prominent candidate for acquiring the Cypriot exchange is Euronext, the largest stock market in Europe, which operates exchanges in Paris, Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, and Athens.
The Tel Aviv Stock Exchange is looking for ways of expanding after undergoing significant upgrades in recent years, including its own flotation in 2019, turning it into a public company after it was previously owned by its members, the banks and investment houses. Its average daily turnover has shot up from NIS 284 million at that time to NIS 5.7 billion in the first half of 2026, while its own market cap has grown to some NIS 12 billion, more than seventeen times its valuation at the flotation.
Last month, the Tel Aviv Stock Exchange released an ambitious plan that included a target of 15-18% annual growth in revenue in the next five years. The exchange announced its intention of expanding strategic collaboration initiatives in Israel and overseas, and of exploiting opportunities to enter tangential fields.
The Cyprus Stock Exchange has a daily turnover of only a few million euros, with trading dominated by Eurobank, Bank of Cyprus, and investment company Demetra Holdings. Together, these stocks account for almost 70% of the volume of trading on the exchange.
Published by Globes, Israel business news - en.globes.co.il - on October 8, 2026.
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