Trading on the Tel Aviv Stock Exchange (TASE) during the second week of February was characterized by a mixed trend in the leading share indices; A new dual-listed company - "Ormat Technologies" completed a dual listing on the TASE
TA-25
The TA-25 index decreased 0.6% over the week and decreased 0.9% since the beginning of the year, after an increase of 10.2% for the whole of 2014.
TA-100
The TA-100 index did not change over the week and decreased 0.6% since the beginning of the year, after an increase of 6.7% for the whole of 2014.
Dual Listed Company - "Ormat Technologies"
On Tuesday, 10.2.2015, trading commenced on the TASE in the shares of "Ormat Technologies" - a foreign clean-tech company which was merged with the quoted company "Ormat Industries" and whose shares are traded in the US on the NYSE.
The company's shares were added to the TA-25 and TA-Tech Elite indices on 15.2.2015.
Currently 45 dual listed companies are traded on the TASE and also traded in the US or in Europe, and there are also 4 companies whose shares are traded also overseas but not under a dual listing.
Share Offerings
This week there was a share offering to the public and a rights issue amounting to US $150 million. The rights issue by IDB Development was notable in size amounting to US $108 million.
Since the beginning of the year, the business sector raised US $280 million in the share market on the TASE.
In 2014 the business sector raised US $2.1 through shares on the TASE.
Corporate Bonds
This week there were two bond offerings by the business sector amounting to US $240 million. The largest offering was made by the real estate company Azrieli Group that raised US $160 million.
Since the beginning of the year, the business sector raised US $2.2 billion through bond offerings.
In 2014 the business sector raised US $16.1 billion through bond offerings on the TASE.
Government Bonds
The Ministry of Finance (MoF) made a bond offering listed on the Tel-Aviv Stock Exchange this week amounting to US $0.2 billion, and since the beginning of the year the MoF raised US $1.4 billion.
In 2014 the MoF raised US $14.5 billion in bond offerings on the TASE.
ETN Offerings
This week 4 new ETNs were issued on international share indices. Currently there are 595 ETNs traded on the Tel-Aviv Stock Exchange.
Foreign Investors
The Bank of Israel released figures this week indicating that foreign investors acquired a net US $120 million in TASE-listed shares in December, and since the beginning of 2014 acquired a net USS $1.3 billion. In December, the net acquisition of government bonds by foreign investors stopped, and since the beginning of 2014 acquisitions amounted to US $2.3 billion.
Foreign investors disposed of a net US $20 million of Israeli T-bills in December, totaling US $1.1 billion since the beginning of 2014.
Sector Indices
WEEK 2015
TA Tech-Elite 2.4% 6.1%
TA Banks -1.7% -5.6%
TA Real
Estate-15 0.2% 8.1%
Foreign Exchange
WEEK 2015
Dollar/NIS 0.6% 0.1%
Euro/NIS -0.4% -6.5%
Facts & Figures
The Tel-Aviv Stock Exchange features in January 2015:
- 471 companies listing equities.
- 592 Exchange Traded Notes.
- 29 series of government bonds.
- 75 Series of Institutional bonds.
- 599 series of corporate bonds.
- 1,328 mutual funds.
- Market Cap. (US$ billions)
- Equities - 197
- Government bonds - 127
- Corporate bonds - 79
