Tel Aviv Stock Exchange starts English website for corporate filings
English version of the MAYA site for corporate disclosures aims to make the exchange more accessible to foreign investors, TASE says
Shoshanna Solomon was The Times of Israel's Startups and Business reporter
The Tel Aviv Stock Exchange (TASE) on Monday launched an English version of its MAYA website for corporate disclosures of TASE-listed companies, in a bid to make the exchange more accessible to foreign investors.
The MAYA website, in Hebrew, serves as a central website for investors active in the Israeli capital market and is where corporate filings, new issues schedules, TASE announcements, TASE board of director resolutions, and other filings are posted. It also holds a corporate fact sheet for each company, summarizing key corporate information, such as the firm’s area of activity, its principal shareholders, corporate securities and financial performance, the stock exchange said in a statement.
Much of this information will be offered also in English now, with the MAYA English website including a corporate fact sheet, reference and payment dates of corporate actions for TASE-listed securities, a schedule of upcoming offerings, projected dates for the release of financial reports, and other information, the statement said.
The Israel Securities Authority (ISA) has been encouraging firms listed on the exchange to file their reports in English as well as Hebrew, to make the information accessible to foreign investors.
Some 54 companies, with a combined market cap of approximately NIS 280 billion, are currently dual-listed on TASE and on a foreign exchange, with shares trading on both exchanges. These firms already file all disclosures in English. In addition, over the past year some 20 companies have filed specific disclosures in English. Only those reports that have been filed in English will be on the English website.
The TASE exchange has 436 companies with a total market value of $203 billion at the end of May 2020, according to data provided by the exchange.
“TASE places great importance in the publication of disclosures in both English and Hebrew and believes that this will increase foreign investor exposure to and investment of in TASE-listed Israeli companies,” the statement said.
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