Oramed Plans Secondary Listing in Tel Aviv Soon, CEO Says
- Israeli institutional investors more drawn to small companies
- First dual-listing this year in Tel Aviv, follows seven IPOs
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Oramed Pharmaceuticals Inc. plans a secondary listing in Tel Aviv “in the next few weeks” to take advantage of an increasing number of Israeli investors seeking new opportunities amid new measures to invigorate the stock market, the company’s top executive said.
The Jerusalem-based pharmaceutical company, which listed on the Nasdaq Composite Index in 2013, doesn’t intend to dilute shares or raise money in the listing, Chief Executive Officer Nadav Kidron said in an interview on Monday. Kidron expects “several million dollars” to be invested through ETFs that will have to list on Israeli indexes.