Bio-Light Israeli Life Sciences Investments Ltd. (TASE:BOLT) has begun trading on the Bulletin Board on Wall Street today, after obtaining US Securities and Exchange Commission (SEC) approval to list its Level 1 American Depository Receipt (ADRs). Bio-Light will be listed symbol "BLGTY", with each ADR equivalent to 100 shares listed on the Tel Aviv Stock Exchange (TASE).
Bio-Light invests in, manages, and commercializes biomedical innovations grouped into clusters around defined medical conditions. The ADR listing is part of the company’s strategy to increase awareness and exposure of its business and technologies to strategic foreign investors, global investment funds, and the international capital markets in general.
"The trading of Bio-Light shares in the US through this ADR program will allow us to further share our unique business model and our leading technologies with a broader spectrum of international partners and investors, while better enabling non-Israeli investors to invest in Bio-Light’s equity. We believe that initiating this ADR program while two products are in the initial commercialization stage demonstrates an important opportunity to increase the public exposure of our business model and our additional products in development. We believe that Bio-Light is very strongly positioned to execute additional commercialization agreements in the near term and to expand and diversify our investors’ and partners’ portfolio," said Bio-Light CEO Suzana Nahum Zilberberg.
Zilberberg added, "In the coming months, we also expect many other value-creating events to occur. We look forward to continually increasing the exposure of Bio-Light’s unique business and technologies among international investors and partners."
Published by Globes [online], Israel business news - www.globes-online.com - on January 23, 2014
© Copyright of Globes Publisher Itonut (1983) Ltd. 2014