Mainboard-listed Sarine Technologies is seeking a dual listing of its shares for trading on the Tel-Aviv Stock Exchange (TASE).
This comes as SGX and TASE recently authorised the dual listing of companies whose primary listing is on one of the venues, to dual list on the other.
The dual listing enables more ready access to the trading of the shares of the company to a broader audience of investors, while maintaining the primary listing.
Sarine Tech, which is domiciled in Israel, has progressively generated growing interest in its business and equities in the Israeli investment market.
Following talks with officials from SGX and TASE, the company says it has “come to the recognition that it is but natural to… seek a dual listing on tASE”.
SEE:Sarine Technologies posts 1Q net loss of US$1.4 mil
Such a dual listing is expected to broaden the potential investing public in the company’s equities and increase the share’s liquidity.
The dual listing may also broaden Sarine’s potential investing audience to the US market due to the seven-hour time difference between Tel-Aviv and the US, compared to the 12 to 13-hour time difference between the US and Singapore.
“It should be noted that the Israeli equity and debt (bond) markets are considered to be highly sophisticated markets with attractive terms for raising capital through the issuance of equities or debt,” says the company.
That said, any such capital raise would be subject to the applicable laws and regulations in Singapore.
The dual listing process is expected to be completed in 2Q2021.
Shares in Sarine closed flat at 49.5 cents on March 3.
