DIAMOND TIMES – Sarine Technologies Ltd advised its investing public that the Board Of Directors of the Company has resolved to seek a dual listing of its shares for trading on the Tel-Aviv Stock Exchange (TASE), as per a press release from the company.
The Singapore Exchange (“SGX”) and TASE have of late authorised the dual listing of companies whose primary listing is on one of the venues to dual list on the other.
This enables more ready access to the trading of the shares of the company to a broader audience of investors while maintaining the primary listing, and all the governance required of the listee in its primary listing venue, as is.
Sarine has further been advised, that such a dual listing will also broaden the potential investing audience to the U.S. market, as the time difference between Tel-Aviv and the U.S. is only 7 hours, as opposed to the 12-13 hour time difference to Singapore.
It should be noted that the Israeli equity and debt markets are considered to be highly sophisticated markets with attractive terms for raising capital through the issuance of equities or debt. Any such capital raise would be subject to the applicable Singaporean Law and regulations, as Singapore is Sarine’s primary listing venue.The dual listing process is expected to be completed, barring unforeseen events, during Q2 2021.
