Ariel Gavish, Friday October 27, 2017
There are currently six Israeli firms listed on the Toronto Stock Exchange and the TSX Venture Exchange, and the TMX Group, which operates both, wants to see that number grow • "Israel is an important market for our exchanges," says TMX Group official.
|
Robert Peterman, vice president of Global Business Development at the Toronto Stock Exchange
 |
Canada's Toronto Stock Exchange and the TSX Venture Exchange are making a concentrated effort to draw Israeli companies to list with them.
A delegation from the TMX Group, which operates both, arrived in Israel this week as part of the Journey 2017 annual business conference, sponsored by EY Israel, the Israeli branch of global accounting giant Ernst & Young.
According to the organizers, about 2,000 people from 100 leading firms in the finance industry attended the conference, which ran Oct.22 to 25.
Robert Peterman, VP of global business development at Toronto Stock Exchange, told reporters that Israel is "one of the better places" in which to find innovative companies, saying Israel and California top the list in terms of technological innovations.
"Israel is an important market for our exchanges and we are pleased to head this delegation of leading Canadian innovation sector investment bankers and capital market advisers," Peterman said. "Two key benefits we see for listing on either Toronto Stock Exchange or Venture include access to North American investors that are able to support companies at all stages of growth; and a competitive landscape of investment banks to support these growth companies with financing and research coverage."
There are currently six Israeli companies listed on the TSX and TSXV, to the tune of CA$2.5 billion ($1.9 billion).
Peterman noted that raising funds via the stock exchange instead of from private investors has various benefits, most prominently the fact that it generates liquid equity that supports job security. He further noted that taking a company public gives it momentum and media coverage, which in turn can be used for rapid fundraising.
In June, TSX and TSXV named Yossi Boker to head business development in Israel. CEO of Global Equity Capital Markets at TMX Group Nick Thadaney said Boker will lead TSX’s expansion into "this key market."