The Tel Aviv Stock Exchange (TASE) has scored another success in its efforts to persuade Israeli companies traded on overseas markets to dual-list in Israel. London traded Israeli digital ad company Matomy Media Group (LSE:MTMY) today announced that it is also listing on the TASE.
The company comes to the TASE 18 months after its IPO in London during which time its share price has fallen by 53%, although news of the dual listing boosted its price by 8.6% today. The company has a market cap of £106 million (NIS 600 million).
Following admission to TASE, it is assumed that Matomy's shares will qualify for inclusion in the following indexes at the next quarterly review: TA Composite, TA MidCap-50, TA MidCap, TA Tech Elite, TA BlueTech, TA Technology.
Matomy CEO Ofer Druker said, "As an Israeli company we have many Israeli investors and it is important for us to be close to the Israeli market. We are confident that this listing will make our shares more accessible to Israeli investors, and enhance our share liquidity, trading volumes, and the number of our shareholders. We believe that our continued growth and business success, combined with the listing on the Tel Aviv Stock Exchange, will further enhance our market capitalization and liquidity, building value for existing and new shareholders."
Published by Globes [online], Israel business news - www.globes-online.com - on February 8, 2016
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