Sarine Plans to List on Tel Aviv Exchange
March 09, 21
(IDEX Online) - Diamond tech firm Sarine is to seek broader investment by listing its shares in Tel Aviv as well as Singapore.
It's taking advantage of recent moves by both the Tel Aviv Stock Exchange (TASE) and The Singapore Exchange ("SGX") to allow dual listings.
Israel-based Sarine Technologies has been listed on SGX since it went public in April 2005. It hopes to join the TASE (pictured) in Q2 of this year.
Daniel Glinert, executive chairman of the board of Sarine Technologies, said: "We believe that taking avail of the newly approved dual listing facility will increase our company's exposure to a broader investing public, facilitate liquidity and enhance shareholder value."
The dual listing will capitalize on the smaller time difference between Israel and the US east coast (seven hours) rather than the 12-13 hour gap with Singapore.