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May 13, 2014 4:36 pm

Israel Bourse Aims for 100 New Listings in 5 Years; to Double Trading Volumes

avatar by Joshua Levitt

Stock market fixings. Photo: WikiCommons.

Stock market fixings. Photo: WikiCommons.

Yossi Beinart, the new CEO of the Tel Aviv Stock Exchange, on Tuesday said his goal is to help bring 100 new listings to the Exchange in the next five years, according to Israel’s Globes business daily.

Beinart told Bloomberg TV’s The Pulse on Tuesday that the TASE also aims to double its daily trading volume by attracting more foreign investment.

At a press conference on Tuesday, Beinart said, “Good service and high transparency are at the center, and there are more issues which we’re going to tackle,” according to Globes.

Beinart said the growth will come from creating a new offering that can attract smaller companies, with market values of up to NIS 800 million ($230 million.)

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“These companies are stuck, because they are too small for foreign markets, and they are stuck in the private market,” Beinart said. “We need to fix this.”

“We’ll have a salespersons function, which did not exist before,” Beinart said. “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 said that TASE would focus on helping Israeli research and development companies come to market. R&D companies “need special things, and the TASE should provide things like analysis, investor relations, and tax breaks,” he said.

TASE also appointed Amnon Neubach as its new chairman.

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