TASE Implements R&D Committee Recommendations: Launches TA Tech-Elite Index

TEL AVIV, Israel, April 7, 2014 /PRNewswire/ -- In its 3.4.2014 meeting, the Tel Aviv Stock Exchange (TASE) Board of Directors approved the launch of the TA Tech-Elite index, which will comprise the shares of the leading Technology and Biomed companies. The new index includes companies with a free float of at least 25% and a market cap of at least NIS 400 million. The minimum market cap required from IPO companies for fast track entrance into the index is set at NIS 200 million. The number of constituents in the index is not limited, while the weight cap of a single constituent is set at 10%. It is anticipated that this new index will also be part of the new "Israeli High-tech" index, which will be calculated by an international index vendor and is expected to serve as the underlying asset for various index-tracking products, enabling greater exposure of Israel's high tech industry among foreign investors. There are currently 34 companies eligible for inclusion in the TA Tech-Elite index, 23 of which are Technology companies and 11 Biomed companies. The cumulative float-adjusted market cap of these companies exceeds NIS 45 billion.

The index is scheduled for launch on 11 May 2014.

The launch of this index constitutes the first step in implementing the recommendations of the Committee to Promote Investment in Public Companies Engaged in R&D, which examined ways to encourage the listing of technology companies on TASE.

Along with the launch of the new index the board also decided to expand the TA BlueTech-50 index into the TA-BlueTech index, a composite share price index comprising all constituents of the TA-Technology and TA-Biomed indices, without limitations on the number of index constituents, starting 15 June 2014 (the upcoming rebalancing date for TASE share price indices). It is expected that 7 companies, with a combined market cap of NIS 950 million will join the TA-BlueTech index as a result of this revision.

Robby Goldenberg, Senior Vice President and Head of the Trading and Derivatives Department remarked: "The launch of the TA Tech-Elite index is yet another measure undertaken by TASE to broaden the spectrum of financial products it offers the public, in accordance with market needs. The new index is expected to focus attention on large technology and biomed companies, render the listing of high tech companies on TASE more compelling and improve the liquidity of high tech shares."

According to Hani Shitrit, Senior Vice President, Head of the Economic Department and the person chairing the Committee to Promote Investment in Public Companies Engaged in R&D, "The Israel Securities Authority and TASE have started to implement the committee's recommendations and are currently initiating the required legislative amendments." The launch of the TA Tech-Elite index, the "Israeli High-tech" index and the promotion of market research on listed companies will improve market efficiency and increase the exposure of institutional, retail and foreign investors to Israeli high tech companies."

A list of potential TA Tech-Elite constituents follows:

Link to R&D committee recommendations

No.

TASE ID
NO
.

Company Name

 Market Cap

Free Float

Weight

1

273011

Nice

9,069

8,565

10.00%

2

1129543

Opko Health

12,678

6,518

10.00%

3

1081124

Elbit Systems

9,062

4,903

10.00%

4

1082544

EZchip Semiconducters

2,599

2,392

6.35%

5

1123017

LivePerson

2,266

1,630

4.33%

6

1085208

Compugen

1,674

1,610

4.28%

7

260018

Ormat

3,011

1,540

4.09%

8

1099654

Allot Communications

1,626

1,482

3.94%

9

1094119

Kamada

1,868

1,379

3.66%

10

1106855

Mazor Robotics

1,670

1,290

3.43%

11

1105055

Evogene

1,680

1,274

3.38%

12

1082692

Silicom

1,550

1,180

3.14%

13

1095819

Perion Network

2,583

1,000

2.66%

14

1120609

Protalix

1,571

946

2.51%

15

1082379

Tower Semiconductor

1,481

929

2.47%

16

1084557

Nova Measuring Instruments

1,083

895

2.38%

17

256016

Formula Systems

1,568

838

2.23%

18

1121730

Pluristem Therapeutics

833

770

2.05%

19

1082965

Audiocodes

962

681

1.81%

20

1087659

Sapiens International

1,325

676

1.80%

21

1082312

Magic Software Enterprises

1,222

672

1.78%

22

1126226

Photomedex

1,126

654

1.74%

23

445015

Matrix IT

1,231

610

1.62%

24

1100718

Brainsway

872

523

1.39%

25

749077

Elron Electronic Industries

1,010

497

1.32%

26

1082510

Gilat Satellite Networks

739

461

1.22%

27

1104280

Clal Biotechnology Industries

1,477

431

1.15%

28

1085166

Ceragon Networks

548

430

1.14%

29

1084698

Hilan

617

322

0.85%

30

1122381

Redhill Biopharma

434

314

0.83%

31

1091065

Maytronics

823

283

0.75%

32

1091651

Arad

768

230

0.61%

33

1102458

Medical Itamar

420

224

0.60%

34

161018

One Software Technologies

620

194

0.51%




72,066

46,342

 

100%

For more information please contact:

Idit Yaaron or Orna Goren, TASE, +972 (3) 5677 405/6

Visit the Tel Aviv Stock Exchange's Website: www.tase.co.il

Logo - http://photos.prnewswire.com/prnh/20130117/588933

SOURCE Tel Aviv Stock Exchange



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http://www.tase.co.il

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