Nasdaq sees more IPOs from Israel
Print Edition
NASDAQ expects a stronger year for initial public offerings of Israeli firms than it had in 2013, the stock exchange’s vice chairman said yesterday.
“Last year there were four IPOs and they had on average an 85 percent increase since the IPO. So the Israeli companies do well on Nasdaq,” Meyer Frucher said during a visit to Tel Aviv.
“There are a lot of (Israeli) companies, a number of companies that we are engaged in various levels of conversations with. We did four last year, we think we’ll do more this year,” he said.
His positive outlook echoed the one given by London Stock Exchange officials who visited Israel last month and said they also expect a boost in 2014 for Israeli companies.
With 90 companies valued at US$40 billion already traded on Nasdaq, Israel is second only to China in the amount of foreign firms it has listed. There have been three Israeli IPOs since the start of the year and four more are in the process of going public on Nasdaq.
“A lot of companies incubate on the Tel Aviv Stock Exchange and move to Nasdaq,” he said.
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