MISGAV, ISRAEL: The Trendlines Group Ltd. has planned to seek a dual primary listing of its ordinary shares on the Tel-Aviv Stock Exchange (TASE) in Israel, a news release suggests.
The Trendlines Group considers that the Proposed TASE Listing will be beneficial for the Company, and in the interests of the shareholders of the Company, while maintaining the Catalist listing of the Company on the Singapore Exchange Securities Trading Limited (SGX-ST).
The Israeli capital market has become very attractive for technological companies with growing interest from institutional investors. In recent months, there have been more than 40 IPOs on the TASE and to the best of the Company’s knowledge, the TASE is expecting as many as 70 IPOs during the first six months of 2021, many of which are technology companies.
The stock markets in Singapore and Israel attract different investors. Listings on both the SGX-ST and TASE will provide the Company with access to two different equity markets and easier shareholder access; and the proposed TASE Listing will strengthen fund-raising opportunities for Trendlines Group.
Trendlines being an Israeli incorporated company, is strategically well-poised for the proposed TASE Listing to attract new business partners and strategic investors in Israel, as well as to recruit, motivate and retain key management personnel for the business of the Group.
Subject to market conditions, Trendlines plans to raise new capital with a public offering of new securities in conjunction with the proposed TASE Listing, of which at least 70% is expected to be subscribed by institutional investors.
Commenting on the Proposed TASE Listing, Chair and CEO Steve Rhodes remarked, “As Singapore continues to deepen its efforts to strengthen its technology capabilities and investment in innovation, we believe that listings on the SGX-ST and the TASE are complementary to the Group’s long-term vision of creating and developing medical and agrifood technology companies to improve the human condition.”
Chair and CEO Todd Dollinger added, “Interest in Trendlines and our portfolio companies from the Israeli investment community, including institutional investors, is clear and growing. We expect that our planned listing and public offering on the TASE will diversify and expand our shareholder base to include greater institutional ownership and higher market engagement.
As the Israeli investment community, especially institutional investors, are receptive to and familiar with Trendlines’ business model, we expect greater liquidity to our shares and substantially increase our cash flow to meet our business strategy. Trendlines remains committed to protecting the interests of our retail and minority investors.”
Trendlines is an investment company that invents, discovers, invests in, and incubates innovation-based medical and agrifood technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. Trendlines’ shares are traded on the Singapore Stock Exchange and in the United States as an American Depositary Receipt (ADR) on the OTCQX International.