NEW YORK, LONDON and TEL AVIV,
Israel, Feb. 9, 2016 The Tel
Aviv Stock Exchange (TASE) and international research firm, Edison
Investment Research, have today announced an agreement for the
analysis of technology and biomed companies listed on the TASE.
This agreement is the first of its kind and forms part of the
analysis project promoted by the Committee for Promotion of
Investments in Research and Development traded companies (the
R&D Committee). The goal is to encourage investment in these
companies by removing the barrier of a lack of understanding in the
market.
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Published analysis from research firms is an important and
globally recognized mechanism in promoting the proper pricing of
listed companies. It helps examine information released by these
companies and assists the pricing of securities. Around 130
technology and biomed companies are listed on the TASE, either
exclusively or dually, yet analysis of companies operating in this
developing sector is rarely published in the Israeli market.
Edison has a team of over 100 analysts and reviews more than 420
companies around the world. The firm has vast experience in the
field and, as part of the agreement, Edison will distribute the
research globally via its own extensive email and social media
distribution lists as well as making it available on 17 different
professional and internet information platforms around the globe.
Access to the research will be free to all users and
unrestricted.
To maintain independence, the high-tech companies will sign a
two-year agreement with the TASE for the service and will not be
able to leave the programme during this time. The companies
reviewed will pay for the analysis while the TASE and the Ministry
of Finance and Office of the Chief Scientist will contribute a
proportion of the cost for small- and medium-sized enterprises. The
analysis will be published four times a year and will include both
financial and scientific analysis of each company as well as a
target price range. In addition, Edison will publish updated
analysis when there are significant events requiring it.
Under a directive issued by the Israel Securities Authority, the
programme will be launched when at least 10 companies have joined.
The TASE intends to sign an agreement with an additional
international research company to take part in the analysis
programme.
Peter Molloy, President of Edison in the US, said:
"Management and investors who understand the quality of Israeli
companies want to feel as comfortable on TASE as they do on NASDAQ
and the London Stock Exchange. Edison's provision to TASE of equity
research that meets international standards of excellence will
ensure Tel Aviv maintains its
proper place as a financial hub for global investors. Both global
and local investors look to the Israeli technology and healthcare
sectors for growth yet financial advisers are increasingly limited
in their ability to advise on listed companies without independent
research coverage – our partnership with TASE aims to help solve
that conundrum for the benefit of companies and investors alike.
The combination of our on-the-ground sector specialists in
Israel, with our global analyst
teams based in New York and
London, will allow us to provide
sophisticated investors, from the US and Europe to Asia, with the level and depth of research
that they expect as the norm for making their decisions."
Dan Ridsdale, Head of
Technology at Edison, said: "Edison is delighted to be
working with the TASE and to be part of their innovative plans for
improving the visibility, understanding and liquidity of companies
on the exchange. We believe that the collaboration will give
high-tech TASE-listed companies the global exposure that they
deserve, while enabling investors both locally and
internationally to make informed investment decisions. Israel is a
global innovation hub that has created enormous economic and
shareholder value across the technology and healthcare industries.
Edison is proud to support the TASE's drive to free up growth
capital to help those firms execute their strategies for the
benefit of stakeholders domestically and internationally."
Hani Shitrit-Bach, Senior VP and Head of the Economics
and Listing Department of TASE said: "Analysis by an
international firm specialising in the field will enable public and
institutional investors in the biomed and technology sectors to
expand and deepen their knowledge in the business of high-tech
companies. Furthermore, publishing the analysis in English and the
global distribution will facilitate the exposure of these companies
to international investors seeking to invest in Israeli high-tech
companies. We hope that this program will promote the proper
pricing of high-tech companies and increase their liquidity."
For more on Edison's technology team see
http://www.edisoninvestmentresearch.com/research/team/technology
For Edison healthcare team see
http://www.edisoninvestmentresearch.com/research/team/healthcare
About Edison: Edison, the investment intelligence firm,
is the future of investor interaction with corporates. Our team of
over 100 analysts and investment professionals works with leading
companies, fund managers and investment banks worldwide to support
their capital markets activities. We provide services to more than
400 retained corporate and investor clients from our offices in
London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated
by the Financial Conduct Authority.
Contact details:Learn more at
www.edisongroup.com and connect with Edison on:
LinkedIn: www.linkedin.com/company/edison-investment-research
Twitter: www.twitter.com/Edison_Inv_Res
YouTube: www.youtube.com/edisonitv
About TASE
Established in September 1953, the
Tel Aviv Stock Exchange (TASE) is an efficient one-stop shop for
the Israeli securities industry, hosting an increasingly
sophisticated range of products available to investors, including
shares, corporate bonds, treasury bills and bonds, index-tracking
products and derivatives. The exchange is home to 461 listed
companies with a total market capitalization of US$200bn, 600 corporate bonds and 640
exchange-traded notes. TASE is a fully automated exchange with a
central order book trading system, providing clearing, settlement
and depository services to local and international investors. To
learn more, visit TASE.
Contact:
Edison
UK:
Neil Shah, Global Research
Director
Dan Ridsdale, Global Head TMT
Research
+44-(0)20-3077-5700
US:
Peter Molloy, President, Edison
US
+1-646-653-7026
Israel:
Will Manuel, Director Edison Israel
+972-549-784-802
Morgan
Rossiter
James
Rossiter
Tania Wild
Julian Mackenzie-Smith
+44-(0)-203-195-3240
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SOURCE Edison Investment Research