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SHL TeleMedicine Ltd. Opens 18% Above Issue Price

Date 16/11/2000

The shares of SHL TeleMedicine Ltd., a medtech company, were traded yesteday for the first time on the SWX New Market. The offering price was set Monday night at CHF 34. At the start of trading on SWX, the stock stood 18% above that level at CHF 39.95, representing a total market capitalization for the company of CHF 426 million.

According to the offering prospectus, of the 10'663'373 shares registered in the Commercial Register, 3'409'091, or 32% of the company's outstanding stock, were offered to the public. Should the underwriters elect to exercise their green-shoe option, that proportion could rise to 35%. 2'500'000 of the publicly offered shares were part of a capital increase associated with the IPO.

SHL TeleMedicine Ltd. is a medical technology company domiciled in Tel Aviv, Israel. SHL TeleMedicine develops and markets to subscribers advanced personal telemedicine systems as well as medical call centre services. It provides remote cardiologic and pumonologic monitoring services for a variety of different types of patients ranging from high risk and chronically ill individuals to healthy people who wish to take a more active role in managing their health.