During his upcoming visit to Australia, (February 27 – March 2) the Israeli Minister for Industry, Trade and Labour, Shalom Simhon will meet with ASX chairman David Gonski and Deputy CEO Peter Hiom to explore opportunities for Israeli companies interested in listing on Australia’s stock exchange.
Both the Australian and Israeli economies have prospered during the recent economic downturn and Israeli companies are looking for opportunities to expand, particularly in new markets.
“Europe and the US have traditionally been Israel’s largest trading partners, but Israeli companies are keen to diversify, especially into the Asia Pacific market,”
Shalom Simhon, Israeli Minister for Industry, Trade and Labour.
The English speaking ASX is an attractive financial hub for Asia Pacific, supported by Australia’s reliable legal system and strong economic credit ratings.
Traditionally Israeli companies have listed on the Tel Aviv Stock Exchange and/or in the US on NASDAQ. Israel has more companies listed on NASDAQ than any country outside North America, except for China. Since the 1980s, over 200 Israeli companies have gone public on NASDAQ.
Privately held, mid-sized Israeli companies believe that listing on the ASX will give them access to capital and markets that are currently unavailable to them. The ASX is almost 4 times larger than TASE and has a diverse investor group looking for opportunities to invest their money.
In particular, companies operating in energy, water and environment management believe listing in Australia would be a good match.
To date there is only one Israeli company currently listed on the ASX, Isonea Ltd. The asthma management company is a combination of Australian-based Pulmosonix and Israeli-based KarmelSonix.
The Minister hopes that his visit will result in many more Israeli companies trading on the ASX.