Israeli business Journal Globes recently reported 2020 to be a record-breaking year for Israeli companies raising capital on the New York and Tel Aviv Stock Exchanges.
Since the beginning of the year, Israeli companies have raised NIS 30 billion (US $8.3 billion) in both locations, with NIS 10 billion (US $2.8 billion) raised on stock exchanges in New York (NYSE and NASDAQ), and the rest on TASE. The main industries of Israeli companies to have raised capital in New York this year so far include insurance, technology and healthcare. Among the group of companies are GT clients Ayala Pharmaceuticals Inc. whose US labor & employment (“L&E”) matters are handled by Tel Aviv L&E Shareholder Meira Ferziger, and PolyPid Ltd., whose Intellectual Property (“IP”) matters are handled by Israel Practice Shareholder and Co-Chair of GT’s Global Patent Prosecution Group, Barry Schindler.
On TASE, 2020 is shaping up to be a record year in number of offerings of companies exclusively raising capital in Israel, with a total of NIS 9 billion raised between January-October 2020 (up NIS 500,000 from past year). In addition, in 2020, 15 companies and partnerships have led successful IPOs on TASE, making IPOs a significant trend to look out for in the remainder of 2020 and possibly in 2021. The above figures do not include private placements and venture capital type transactions, which have also been extremely active (look out for a blog post on the condition of the private capital market in Israel in the near future).