The Tel Aviv Stock Exchange (TASE) is expanding its activities and opening its doors for the very first time to private companies. In this context, the TASE has signed a franchise agreement for distribution and use of Cap.TAble, a capital management system for Israeli private companies.
The Cap.TAble system is the first tier in the establishment of a long-term relationship with private companies and support of their growth. This is the first step in the execution of the TASE's strategic plan, which was presented in the beginning of the year and includes, among other things, the encouragement of small and medium-sized companies to list and trade in Israel.
The Cap.TAble system is the product of Israeli development by Pretty Simple Solutions, which was founded in 2009 by Eran Palmon and Hagi Schwartz. The system enables non-public companies to manage their capital, including stocks, options, convertibles and warrants, create relevant documents, etc. It is a platform primarily designated for high-tech companies and growing companies that manage various types of corporate capital with a variety of stockholders and option holders.
The system is available to users for a monthly charge, which will include support (helpdesk) services provided by TASE.
The marketing of Cap.TAble is the first step in the creation of a relationship between TASE and private companies. Secondary trading of private company's shares and options is increasingly developing worldwide, and some maintain that in the future it will represent a significant part of trade. It is noteworthy that the NASDAQ Stock Market markets the system to American private companies through NASDAQ Private Market, and offers, alongside use of the system, current and prospective investor relationships, and secondary liquidity for their employees and shareholders.
Yossi Beinart, CEO of the TASE, said: "Further to the strategic plan we presented early this year, we are taking our first step in welcoming private companies to the exchange. The franchise for use of the Cap.TAble system is part of a comprehensive move we are making to expand the toolbox we offer companies. We are opening our doors to private companies too and have faith that, with the assistance of the right tools, they will be able to reinforce their activity, grow and even consider the possibilities for their future listing and trading in Tel Aviv. We intend to continue to deepen our relationship with private
companies, thereby aligning ourselves with the common practice at the major and leading stock exchanges around the world".
