Despite the best efforts of the Tel Aviv Stock Exchange (TASE) management to increase the number of companies listed on the Israeli stock market, and the boost it is receiving from the wave of IPOs this year (after several years of drought), there is actually no rise in the number of companies listed this year. This is because a large number of companies has delisted.
An investigation of the matter by "Globes' found that as of the end of October 2017, 10 companies had delisted this year from the TASE; three of them previously dual listed (Cellect, Celsion and Mankind); and seven other companies including three energy partnerships that merged (Avner, Naphta and Hanal). In addition, seven companies are in various stages of delisting including Cerragon, Biondvax, Nisko, and of course Mylan NV.
Over the same period, 15 new companies have listed on the TASE including one dual listing (Oramed) and 14 IPOs. In addition, four companies have filed for IPOs (Yaacobi Bros., El Mor, All Trade and Holmes place).
In the past 11 years the number of companies traded on the TASE has shrunk 30% from 640 to 460.
Published by Globes [online], Israel business news - www.globes-online.com - on November 13, 2017
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