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Tel Aviv IPO Drought Worsens After Trading Sinks: Israel Markets

The Tel-Aviv Stock Exchange is suffering its longest drought for initial public offerings in at least five years, adding to pressure on regulators trying to lure companies by proposing concessions including tax breaks.

No Israeli company has chosen Tel Aviv as its primary exchange for an IPO since a June offering by Kadimastem Ltd., a biotechnology group with a market value of less than $15 million, according to data compiled by Bloomberg. Since that sale, 10 companies have chosen foreign bourses to go public.