Tamar Petroleum Management Opens Trading on the Occasion of the Company's IPO on TASE

​Tamar Petroleum opened this morning (July 24, 2017) trading in the Tel Aviv Stock Exchange (TASE), celebrating its IPO and issuance of bonds.

Tamar Petroleum is the 11th company to join TASE since the beginning of the year. It joins 17 other companies and partnerships exploring oil and gas with a combined market cap of approx. $40 billion.  

Yossi Abu, Delek Drilling CEO: "The establishment of Tamar Petroleum is the result of many good men and women's intense work. Together, they made possible the largest IPO in the Israeli market. The energy sector in the Israeli capital market will benefit a high-standard, unique addition that will enable investors to gain a direct, optimal exposure to the Tamar project."

Liami Weissman, Tamar Petroleum CEO: "The IPO proves the market's trust in Tamar Petroleum and reflects the understanding that Israel must achieve energetic self-reliance. The energy sector has great potential in the public market. Tamar Petroleum is one of the first companies to realize this potential on the background of the expected increase of investments in the energy sector in particular and in infrastructures in general."

Hani Shitrit-Bach, SVP, Head of Listing and Economics Department of TASE: "The oil and gas sector has begun developing in the 1980's thanks to a few visionaries, who believed oil and gas could be found in Israel. These visionaries swept the public through capital raisings, all of which was done in TASE. This is a classic example of TASE's contribution to the development of the Israeli economy and market.  Tamar Petroleum raised approx. NIS 700 million to attain a company value of NIS 1.16 billion, which means the public holds approx. 60% of the company shares. Tamar Petroleum is expected to join the TA-90 Index, the TA-125 Index, and the TA-Oil & Gas Index in the beginning of October 2017".