The Tel Aviv Stock Exchange (TASE) announced that Mellanox Technologies, Ltd., which made an IPO on the NASDAQ last February, has dual listed on the Tel Aviv Stock Exchange.
Mellanox with US$ 650 million cap. is expected to enter the TA-100 and Tel-Tech 15 indices using the TASE’s fast track system. This enables dual-listed companies to enter the leading stock exchange indices soon after they’ve been dually listed.
Eyal Waldman, Mellanox’s CEO, stated: “We believe that the listing of our company’s stock on the TASE will expand the base of Mellanox’s stockholders. The dual listing will increase overall trading volume of the company’s stock and enables Israeli investors, institutional and others, to invest conveniently and at low cost, in the company’s stock.”
Ester Levanon, TASE CEO, was pleased that Mellanox Technologies has joined the TASE within a short time of its IPO abroad, similarly to Cellcom, which dual listed last week. "Among the 16 high tech companies which listed on the TASE since the beginning of this year, Mellanox is the largest. A total of 70 companies are listed on the Tel-Tech, the Tel Aviv technology index. Mellanox will join the Tel-Tech 15 through the fast track option and will be placed in the fifth place".
Levanon added that currently, there are more than 50 companies listed both in Israel and abroad, and hopefully other large companies will also join trading on the TASE.