Tel Aviv, August 1st, 2019 – The Tel Aviv Stock Exchange
(TASE) announced the completion of its NIS 225 million initial public offering. The offering was met with strong demand from
institutional investors from the United States, the European Union, Asia
pacific and Israel, pricing above the midpoint of the offering range at NIS 7.1
Shares began trading today under the symbol “TASE”.
The CEO of TASE, Ittai Ben-Zeev,
commented: “Today, TASE joins leading companies in Israel and other stock
exchanges globally operating as public companies. The offering is a remarkable
milestone for TASE and further signifies the opening of the Israeli capital
markets to global institutional investors transparently."
added: “Additionally, in accordance with our vision and objectives, we have
worked to involve the public in Israel in the IPO. I am delighted with the vote
of confidence from private investors, which is a reflection of the wish to be a
part of the success of the vibrant Israeli economy and of the long-term
potential of the TASE.”
TASE published a supplemental notice to the offering prospectus
that was publish last week, which contains details of the non-uniform ("book
building") offering addressed to institutional investors in Israel and
overseas. The institutional phase was characterized by strong demand from major
international investment institutions as well as institutional investors in
The public phase of the offering took place on Monday, July 29,
allowing the general public to purchase shares at a uniform price identical to
the NIS 7.10 price per share that was set at the institutional stage.
The company expects to join TASE’s indices on the end of trading
day of October 3rd, 2019: TA-SME60, TA-SME150, TA-Finance, TA
Insurance-Plus, TA-Rimon and TA-AllShare.
is a TASE Remote Member, served as the lead Underwriter of the offering and as
Global Coordinator for the transaction.