Partner's shares began trading on the TASE on Tuesday, July 3, under the symbol "Partner.'' The company will join the TA 25 Index - the TASE's benchmark stock index - and the TA 100 Index.
Three additional Nasdaq-traded companies: BreezeCom (BRZE), Magal Security Systems (MAGS), and Jacada (JCDA), have dual-listed on the TASE in the past week.
BreezeCom shares will trade in Tel Aviv under the symbol "BRZE.'' They will join the TA 100 Index beginning August 1 and the Tel-Tech - the TASE's benchmark technology-share index - at the beginning of 2002. Magal Security Systems shares will trade on the TASE under the symbol "MAGS.'' Jacada, which is already traded under the (symbol "JCDA'') joined the Tel-Tech on July 1.
With these recent additions, an even dozen companies have taken advantage of the opportunity to trade on both Wall Street and Achad Ha'Am Street, home of the Tel Aviv Stock Exchange.
Israel's dual-listing law enables U.S.-listed companies to dual-list in Tel Aviv with no additional regulatory requirements.
"The TASE welcomes the new dual-listed companies,'' said Ronit Harel Ben-Ze'ev, senior vice president and manager of the Economic Department at the TASE. "Dual-listing of U.S.-listed companies benefits the companies as well as their Israeli and European investors."
"Dual-listing makes trading more convenient for European investors, who can now trade these shares on a more comfortable schedule and at the TASE's low trading and clearing costs. Dual-listing also enables investors to trade the shares from 10 a.m. until 11 p.m. Israel Time (GMT+2)."
"The quick and uncomplicated of the dual-listing process is the key reason for the TASE's success in attracting a dozen companies to dual-list in the few months since the law went into effect. The TASE expects a number of additional companies to dual-list in the near future.''
The TASE believes that dual-listing will substantially boost the newly listed stocks' trading volume.
The Tel Aviv Stock Exchange, founded in 1953, is owned by its 28 member firms and is regulated by the Israel Securities Authority. The Exchange provides a highly advanced electronic trading system for shares, bonds, Treasury bills and derivatives. All trades are cleared and settled by the TASE Clearing House. The TASE offers international investors a combination of attractive investment opportunities and a full complement of market services, including an elaborate and user-friendly Website at www.tase.co.il.
