Tel Aviv Stock Exchange Announces Pricing of a Secondary Offering of Ordinary Shares

TEL AVIV, Israel and NEW YORK, Jan. 24, 2024 /PRNewswire/ -- The Tel Aviv Stock Exchange Ltd. (the "TASE") (TASE: TASE), today announced the pricing of a secondary offering of 17,156,677 ordinary shares at an offering price of NIS 20.60 per share. According to the agreement between the TASE and certain shareholders of the TASE, which made publicly disclosed by TASE on December 14, 2023, the TASE will receive approximately NIS 242 million of the net proceeds from this offering after deducting placing commissions and other offering expenses payable in connection with the offering.

TASE intends to use the net proceeds from this offering for investment in its technology infrastructure.

Notably, the transaction drew robust interest from investors across Israel, the United States, Europe, and Australia, reflecting a strong vote of confidence in both the Tel Aviv Stock Exchange and the Israeli economy at large. Among the prominent buyers were Neri Oxman and Bill Ackman who have agreed to purchase approximately a 4.9% equity stake in the TASE.

Jefferies served as sole global placement coordinator with Leader Capital Markets acting as local placement coordinator for Israel. This partnership demonstrates strong global collaboration and underscores the Tel Aviv Stock Exchange's pivotal role in the global financial landscape.

The offering is expected to close on or about January 25, 2024.

The ordinary shares were only offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-U.S. persons outside the United States in compliance with Regulation S under the Securities Act. The ordinary shares being offered have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements of the Securities Act.

This press release does not and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities law of any such state or jurisdiction.

To the full disclosure in MAYA site: https://maya.tase.co.il/en/reports/details/1571421

About TASE

The Tel Aviv Stock Exchange LTD (TASE) was established in Israel in September 1953. TASE plays a central role in the Israeli economy and provides a market infrastructure that is central to the economy's growth. TASE provides markets for the listing and trading of a vast range of securities and derivative instruments. These include shares, corporate bonds, government bonds, Treasury bills, ETFs, convertible securities, single stock options, options and futures on equity indices, and options and futures on foreign currency exchange rates.

https://www.tase.co.il/en

Safe Harbor Statement

The information included in this press release contains, or may be deemed to contain, forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995 and the Israeli Securities Law, 1968). Such forward-looking statements, relating to the offering and the TASE's intended use of proceeds from the offering, are subject to uncertainties and assumptions and the actual results may materially differ. All forward-looking statements in this press release are based on information available to the TASE on the date hereof.  All written or oral forward-looking statements attributable to the TASE are expressly qualified in their entirety this paragraph. The TASE does not intend to update these forward-looking statements unless required by law to do so.

Contact:

Orna Goren
Head of Communication and Public Relations Unit
Tel: +972 76 8160405
[email protected]

SOURCE The Tel Aviv Stock Exchange Ltd.