Tel Aviv Stock Exchange Announces Dual-Listing of First U.S.-Based Company.Business Editors TEL AVIV Tel Aviv (tĕl əvēv`), city (1994 pop. 355,200), W central Israel, on the Mediterranean Sea. Oficially named Tel Aviv–Jaffa, it is Israel's commercial, financial, communications, and cultural center and the core of its largest , Israel--(BUSINESS WIRE)--Feb. 13, 2001 The Tel Aviv Stock Exchange Tel Aviv Stock Exchange Israel's only stock exchange. announced that the shares of Polycom Inc. (Nasdaq:PLCM PLCM Product Life-Cycle Management PLCM public long code mask PLCM Public Land Code Mask ), a California-based company will begin trading on the TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) today. Polycom became the first U.S.-based company to dual-list its shares on the TASE. The company develops, manufactures and markets a full range of premium quality network access devices and broadband appliances. Ronit Harel Ben Ze'ev, senior vice president and head of the TASE's Economic Department, welcomed Polycom to the Exchange. "Israel's dual-listing law enables U.S.-listed companies to list their shares on the TASE with no additional regulatory requirements and no added costs," Mrs. Harel Ben Ze'ev said. Since the Knesset, Israel's parliament, enacted the dual-listing law in October 2000, six U.S.-listed Israeli companies The top 10 Israeli companies by sales are[1]:
ACCD Art Center College of Design (Los Angeles, California) ACCD Alberta Committee of Citizens with Disabilities (Canada) ), an Israeli manufacturer of visual and voice networking products. Dual listing provides substantial benefits to the listed companies and the investment community, both in Israel and abroad. The companies get a new investor base as Israeli and European and investors can trade dual-listed shares on convenient hours and take advantage of the TASE's low trading fees. Investors can more easily access and assess the many innovative technology and other companies that are finding the Tel Aviv Stock Exchange a natural trading arena for their shares. Ms. Harel Ben Ze'ev said that more Israeli and international companies, including U.S.-incorporated companies based in Israel, are expected to dual-list on the TASE in the near future. "New dual listings are the greatest potential for our market," she said. "More U.S.-listed companies will bring in more investors, Israeli and European, and stronger trading volumes Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. ." |
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