Tel Aviv Stock Exchange to go public in July -report

Credit: REUTERS/BAZ RATNER

The Tel Aviv Stock Exchange (TASE) will hold its initial public offering in early July, according to a published report on Tuesday.

JERUSALEM, May 21 (Reuters) - The Tel Aviv Stock Exchange (TASE) will hold its initial public offering in early July, according to a published report on Tuesday.

The Calcalist financial daily, citing two sources, said Israel's bourse was preparing a prospectus and that a roadshow is planned for Israel, the United States and Europe.

The TASE declined to comment.

Last month, the exchange said it planned an IPO for 30 percent of its shares in the coming months, after it publishes its first quarter 2019 financial results, which are slated for early June.

Last year TASE sold nearly a 20 percent stake to investment fund Manikay Partners and another 19 percent to four other foreign investors. That sale valued the exchange at 551 million shekels ($153 million).

The exchange has been trying to boost declining trading volumes. It demutualised in 2017 to become a for-profit bourse.

($1 = 3.6004 shekels)

(Reporting by Steven Scheer, Editing by Ari Rabinovitch)

((steven.scheer@thomsonreuters.com; +972 2 632 2210; Reuters Messaging: steven.scheer.thomsonreuters.com@reuters.net; Twitter: @StevenMScheer))

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