Israel s augmented reality tech maker Augmedics raises $36 million reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Underwriters strike it rich in TASE flotation boom
Underwriters haven t been this busy in 20 years, but some fear the regulators efforts to expose the public to technology stocks have gone too far.
The general breakdown caused by the coronavirus pandemic has generated some surprising phenomena. One of them is the boom in IPOs in the US, and also in Tel Aviv, where, unless there are further surprises in store, it will break records for primary issues and new listings on the Tel Aviv Stock Exchange (TASE). The Israel Securities Authority recently estimated that if the current rate of offerings continued, more than 100 companies would be added to the TASE, after nearly 30 were newly listed last year. Underwriting firms in Tel Aviv, which have earned aggregate fees of around NIS 150 million in the past few months, report with satisfaction that they are working round the clock.
Tzahi Sultan bringing Big-Tech 50 to TASE
Big-Tech 50, which was founded in February this year, states in its draft prospectus that it intends to create an index of 50 technology companies with a market cap of around NIS 1 billion.
2020 continues to be a good year for new issues on the Tel Aviv Stock Exchange. Shortly after the completion of the flotation of Almeda Ventures, which is active in digital health, Tzahi Sultan is bringing to the stock exchange another partnership in which he is a member, this time in technology. The partnership is Big-Tech 50, which invests in technology companies, and which is believed to be seeking to raise a sum in the tens of millions of shekels on the Tel Aviv Stock Exchange.