Israel to ease dual-listing with Hong Kong, Singapore, Toronto
Published Jan 14, 2018 06:33
Israel to ease dual-listing with Hong Kong, Singapore, Toronto
JERUSALEM, Jan 14 (Reuters) - The Israel Securities Authority (ISA) said on Sunday it approved a plan to allow Israeli companies traded in Singapore, Hong Kong and Toronto to easily dual-list on the Tel Aviv Stock Exchange (TASE).
"These are markets whose regulatory level is as high as in Israel and dual-listing could encouraging trade on TASE," ISA Chairman Shmuel Hauser said.
In 2000, the dual-listing programme was launched for Israeli companies traded in New York and London and since then, more than 60 companies have dual-listed.
Companies that choose to dual-list are subject to the rules of the foreign country and may publish reports in English.
The authority noted that recently, there has been a growing interest among Israeli companies to list in Asia because of business ties as well as a perception that Hong Kong, Singapore and Toronto are attractive markets to raise capital.
The plan still requires the approval of the finance minister and parliament's finance committee.
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Written By: Reuters
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