The Tel Aviv Stock Exchange is set to reach a record volume of listings in 2007, driven by high activity in the first five months of the year - during which NIS 10.2 billion in shares and over NIS 15b. in bonds were listed on the exchange.
"The stock exchange is getting ready to deal with an unprecedented volume of issuances and listing requests, which is nearly four times as high as in the average quarter activity in the primary market," said Ronit Harel Ben-Zeev, senior vice president and head of the listing department at the bourse. "Despite the high volume of issuances we are not compromising on the quality of our testing procedures to serve the public interest."
Harel Ben-Zeev noted that of the 201 listing requests by new and already-listed companies, which were received in the first months of the year requesting that prospectuses be published by the end of May, 141 companies did publish prospectuses, while others were being prepared for listing in the next quarter. The end of May is the deadline for raising money on the basis of 2006 financial reports.
The Tel Aviv Stock Exchange reported that during the first five months of the year 33 new companies issuing shares joined the exchange compared with 37 companies during the course of last year and 24 companies in 2005. During the same time, 15 new companies issued bonds at a volume of NIS 2.3b. The majority, or 80 percent, of the bonds were issued by real estate companies.