"My dream is for the TASE to have 100 new listings within five years," said new Tel Aviv Stock Exchange (TASE) CEO Yossi Beinart at today's press conference where he and new chairman Amnon Neubach unveiled the TASE's work plan for 2014.
"Good service and high transparency are at the center, and there are more issues which we're going to tackle: fixing the clearance to meet international standards and to list more companies by creating an offering product suitable for companies with a value of up to NIS 800 million. These companies are stuck, because they are too small for foreign markets, and they are stuck in the private market. We need to fix this. R&D companies need special things, and the TASE should provide things like analysis, investor relations, and tax breaks. We'll have a salespersons function, which did not exist before. I want people who will seek out companies, who will knock on doors. We'll turn over every stone to ensure that we'll have a good product."
Beinart added, "In recent years, especially in the past five years, the world of stock markets has changed. We've realized that an unregulated market can bring down economies, there was a very big change in Europe and the US to try and reduce capital market risk.
"A company can try and raise money anywhere, and it should do everything to do so in the best place for it. money is always looking for good investments. There is fierce competition between stock markets, and we've been left out. Look at how the NYSE and Nasdaq are fighting for Alibaba, and we too should fight for every offering. Specialized markets are opening, such as the technologies and energy sectors on the Toronto Stock Exchange."
Published by Globes [online], Israel business news - www.globes-online.com - on May 13, 2014
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