The Tel-Aviv Stock Exchange Launches the TA-Cannabis Index

TEL AVIV, Israel, Dec. 28, 2020 /PRNewswire/ -- The Tel-Aviv Stock Exchange (TASE: TASE) announced today the launch of a new index that will comprise shares of companies included the Cannabis Subsector, under the Biomed Sector.

The Israeli medical cannabis industry has evolved in recent years and, while not yet mature, has gained rapport in the capital market. Accordingly, on November 1, 2020, TASE launched a new dedicated Cannabis Subsector. The Cannabis Subsector includes companies that are primarily engaged in the fields of research, cultivation, sale or production and marketing of medical cannabis products.

The majority of shares in the Cannabis Subsector are included in the TA-Growth Index and only one is included in the TA-SME60 Index. As the market cap of the 9 cannabis companies included in the Tamar Equity Indices Universe is relatively low, at present the index does not qualify as a base asset for ETFs and tracking financial products. Nevertheless, as it is useful, among others, in indicating trend changes in the market cap of its companies and as a benchmark for active mutual funds that offer exposure to this emerging and growing sector, TASE has decided to launch the index.

The TA-Cannabis Index will include the shares of companies that TASE has classified to the Cannabis Subsector, with a weight cap of 15% for shares included in the index.

Presented below are the characteristics of the index, based on the simulation performed by TASE on December 24, 2020:

1) Number of shares in the index - 9

2) Market cap - NIS 1.7 billion

3) Float value - NIS 0.7 billion

4) Composition of the index, by market cap indices:

a) Shares included in TA-SME60 - 1
d) Shares included in TA-Growth - 8

Contact:
Orna Goren
Head of Communication and Public Relations Unit
Tel: +972 768160405
Mobile: +972 523400843
Email: [email protected]

SOURCE The Tel Aviv Stock Exchange Ltd.