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The managements of Energean Oil & Gas and Shapir Engineering opened the trading on the Tel-Aviv Stock Exchange (TASE) this morning on the occasion of their joining the TA-35 Index.
Energean Oil & Gas is engaged in oil and gas exploration and production, focusing on the Eastern Mediterranean basin, where it holds 13 licenses. The company’s market cap stands at NIS 4.6 billion and it is the third-largest company in the TASE oil and gas exploration sector.
Shapir Engineering is engaged in the infrastructure, industry and real estate sector and made its IPO on TASE in December 2014 at a company value of NIS 2.2 billion; today, the company’s value stands at NIS 4.5 billion.
Shaul Zemach, Country Manager Energean Israel: “Energean was the first British company to list on the Tel-Aviv Stock Exchange. We promised to create competition and to be accessible to the local market, and we have kept our word. At the beginning of March, we will begin exploratory drilling in Israel’s exclusive economic zone. The gas that will begin flowing to the Israeli economy in approximately another two years and our joining the TA-35 Index, will bring Energean into almost every home in Israel in the coming decade. Such a status requires us to appreciate the faith placed in us and we will continue to work in the best interests of the public and our investors”.
Mathios Rigas, CEO Energean Group: “Our joining the TA-35 Index comes less than a year after Energean Oil & Gas made its IPO on the London Stock Exchange. We have full confidence in the investors and the Israeli market. This is a significant step for us on our path to turning Energean into a “people’s share”.
Yehuda Segev, Chairman Shapir Engineering: “Shapir Engineering‘s joining the 35 largest companies on the Israeli stock exchange is a mark of honor for the company, for its management and for its employees. Joining the Index is another milestone on the company’s path toward establishing itself as a large and influential infrastructure company in Israel. We hope to continue our development in line with the company’s strategy, which has earned the trust of the investing public. We are committed to add further value for our shareholders and to be leaders in the company’s present and future fields of activity”.
Amit Rahmani, Head of Indices Unit at TASE: “We are pleased that two companies from different sectors – the Oil and Gas Sector and the Real Estate and Infrastructure Sector are joining the TA-35 Index, TASE’s flagship index. This index comprises a broad range of companies from different industries, which reflect the Israeli economy. Energean Oil & Gas is a relatively new company that was listed on TASE last October, as a dual-listed company. Shapir Engineering, under the management of the four Shapir brothers, has been extremely proactive in order to join TASE’s flagship index, and has increased the percentage of the company’s public ownership to 37%. I wish both these companies great success, each in its individual sector, and hope that they continue to grow and flourish, taking on more employees and expanding their development. This success is important to the public investors which has placed its trust in them, and now that the companies have joined the TA-35 Index, the investors have an even greater exposure to them”.
Pictured:
The managements of the companies Energean Oil & Gas and Shapir Engineering and the management of TASE.
Photo credit: Guy Assyag, for no financial consideration.
