Israeli shares traded on Wall Street reach massive $300 billion valuation

Calcalist: The aggregated value of the shares of the 85 Israeli companies traded in the US accounts for 75% of Israeli GDP, and is more than market cap of shares on the TASE

Tech firm WalkMe’s initial public offering of shares has brought the total valuation of the shares of the 85 Israeli companies traded on Wall Street to $300 billion, Calcalist reported Wednesday, citing data compiled by investment bank Oppenheimer Israel.

The figure represents a $100 billion jump in value since the start of 2021, of which $75 billion is the total value of new companies that have issued shares on Wall Street or have merged with special purpose acquisition companies (SPACS). The remaining $25 billion is a surge in value of preexisting Israeli stock on the US markets.

The 85 Israeli firms with shares traded in New York have seen a 12% jump in value since the start of the year – outperforming the Nasdaq index, which has risen 9% since January, the data shows.

The surge in the aggregated value of the shares of Israeli firms traded in the US accounts for 75% of Israeli GDP and is higher that the total value of the shares of the 507 companies traded in Tel Aviv (of which 52 are dual-listed firms). The total value of these publicly traded firms in Tel Aviv was NIS 962 billion ($295 billion) as of end of day Wednesday.

Source: https://www.timesofisrael.com/israeli-shares-traded-on-wall-street-reach-massive-300-billion-valuation/

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