Tel Aviv Stock Exchange Completes Public Stage of Offering
The general public was offered stock worth $6.5 million with a cap of $8,500 per investor. Over 1,000 private investors participated in the public stage, through brokers and bank consultants
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The Tel Aviv Stock Exchange (TASE) has completed the public stage of its stock offering on Monday. The general public was offered stock worth NIS 23 million (approximately $6.5 million) with a cap of NIS 30,000 (approximately $8,500) per investor. The public stage, conducted through brokers and bank consultants, saw participation from over 1,000 private investors, the underwriters told Calcalist.
Tel Aviv Stock Exchange (TASE). Photo: Bloomberg
Earlier on Monday, Calcalist reported, citing people familiar with the matter who spoke on condition of anonymity, that TASE closed the institutional pricing stage of the 31.7% stake offered with demand outstripping supply by five.
TASE will begin trading at a market capitalization of NIS 710 million (approximately $201.8 million) in August. The exchange will receive about NIS 35 million (approximately $9.4 million) from the sale, half of the additional profit above the original NIS 550 million (approximately $156 million) valuation made by the four funds that acquired recently sold stake in 2018—Australian superannuation fund Sunsuper, Santa Monica-based Dalton Investments LLC, New York-headquartered investment bank Moelis & Company, and Denmark-based Novo Nordisk Foundation.
Tel Aviv Stock Exchange (TASE). Photo: Bloomberg
