Wix.com Ltd., an Israeli provider of online tools that help create websites, will shun the New York Stock Exchange and list its shares on the Nasdaq Stock Market.
“Wix is listing on Nasdaq,” Bruce Aust, executive vice-president of the Nasdaq OMX Group Inc.’s global corporate client group, said today in an interview in Tel Aviv. “We don’t talk about timeframes for IPOs. But they are coming to Nasdaq.”
Wix this month filed to sell as much as $100 million in shares in the largest initial public offering by an Israeli company in the U.S. since SodaStream International Ltd.’s 2010 debut, according to data compiled by Bloomberg. The Tel Aviv-based company had applied to list on the New York Stock Exchange, an Oct. 1 regulatory filing showed. While Nasdaq scored a coup by landing the Facebook Inc. IPO in 2012, it lost Twitter Inc.’s listing to the NYSE yesterday.
Eric Mason, director of communication at Wix, declined to comment on a decision for a Nasdaq listing, in an e-mailed response to Bloomberg News.
Wix will join the 61 Israeli companies listed on Nasdaq as of Sept. 25, according to the exchange. That compares with seven companies listed on the NYSE. While there are 13 exchanges among the 50-some venues that trade stocks in the U.S., NYSE and Nasdaq are currently the only two that list companies.
Shares of Teva Pharmaceutical Industries Ltd., the world’s largest maker of generic drugs, began trading on the NYSE in May 2012 after the Petach Tikva, Israel-based company transferred its listing from the Nasdaq.