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Israel to ease dual-listing with Hong Kong, Singapore, Toronto

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01/14/2018 | 12:44pm CEST
A plane flys above an electronic board displaying market data outiside the Tel Aviv Stock Exchange, in Tel Aviv, Israel

JERUSALEM (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 program 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.

(Reporting by Steven Scheer; Editing by Tova Cohen)

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