The Tel-Aviv Stock Exchange (TASE) and the global consulting and research firm, Frost & Sullivan, announced today that they signed an agreement for the participation of Frost & Sullivan in the analysis program that TASE recently announced.
The aim of the program is to enable the publication of an independent analysis of biomed and technology companies that are traded in TASE that will join the program, in order to decrease the lack of knowledge barrier that exists among investors in these sectors; a barrier that causes sub-optimal trade volumes and pricing. In addition, the program will help new technology & biomed companies in their attempt for an Initial Public Offering in TASE, by providing financial institutions and the general public with information on these companies.
To maintain independence, the high-tech companies will sign a two-year agreement with the TASE for the service and will not be able to leave the program during this time. The companies reviewed will pay for the analysis while the TASE and the Ministry of Finance by the Chief Scientist will contribute a proportion of the cost for small and medium-sized enterprises. The analysis will include both financial and scientific analysis of each company as well as a target price range and will be published four times a year. In addition, Frost and Sullivan will publish updated analysis when there are significant events requiring this.
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Frost & Sullivan employs over 1800 staff, analysts, experts and growth strategy consultants from 50 locations, including in Israel, New York, London, the Far East, Europe, Asia, Latin America & Africa. For the purpose of the analysis program, Frost & Sullivan will leverage the experience and knowledge it has gained in 54 years since its inception across the healthcare, technology and industry sectors; in tens of thousands of market and economic analysis reports, and in provision of services for the planning & implementing of growth strategies, capital raising support and analysis driven global marketing support for enterprises, growth companies and investors in the global and the Israeli markets. Frost & Sullivan's global team will support the analysis team that is joining the consulting team of the company in Israel.
TASE will hold a conference on March 7th between 4-7pm in TASE Convention Center. TASE, with the two international firms, will present the full details of the new analysis program to listed biomed and technology companies. During the event the companies will be able to sign-up for the program.
Hani Shitrit-Bach, Senior VP and Head of the Economics and Listing Department of TASE, said: "We are delighted for having Frost & Sullivan joint our analysis program, as the firm can leverage its global expertise and unique capabilities in covering and consulting in the broad Biomed and Technology sectors in the most important global markets. The TASE signed few weeks ago a similar agreement with Edison, an international research company to take part in the analysis program.
We believe that many listed biomed and technology companies can benefit from joining the analysis program, which can enable the appropriate pricing and trade volumes with regards to these companies".
Eran Flumin, Director of Israel & Consulting at Frost & Sullivan, said: "We are delighted to be selected for the unique and important program that TASE has initiated and created, and to have the opportunity to help investors and listed companies, by enriching their knowledge about the companies that will join the program and the markets they are operating in".
