The number of companies listed on the bourse has dropped by 200 over the past decade to 455. Israeli cabinet ministers have approved a bill to restructure the Tel Aviv Stock Exchange (TASE) into a profit-making entity. The bill, which was passed by Israel’s parliament on Wednesday, will allow for an initial public offering (IPO) of shares in the new entity, and is expected to be signed off later this week. According to Israel’s Finance Minister Moshe Kahlon, this move should increase TASE’s competitiveness, enable cooperation with foreign exchanges and put an end to Israeli banks’ control over the exchange.
Israeli cabinet ministers have approved a bill to restructure the Tel Aviv Stock Exchange (TASE) into a profit-making entity. The bill, which was passed by Israel’s parliament on Wednesday, will allow for an initial public offering (IPO) of shares in the new entity, and is expected to be signed off later this week. According to Israel’s Finance Minister Moshe Kahlon, this move should increase TASE’s competitiveness, enable cooperation with foreign exchanges and put an end to Israeli banks’ control over the exchange.