Israeli companies explore listing options in Hong Kong, says PwC
Tel Aviv exchange has more than 500 listed companies while 78 Israeli firms are listed on US stock markets, with market capitalisations of between US$100m and US$30b
Israeli technology and health care companies are eyeing stock market listings in Hong Kong in a bid to establish closer ties with Chinese investors and customers, according to accounting giant PricewaterhouseCoopers.
The firm’s Israel partner Eitan Glazer has just led a delegation of companies to Hong Kong to meet with senior stock exchange officials and investors.
“There are an increasing number of Chinese investors in Israeli companies in the past five years. This has led many companies from Israel to show an interest in listing in Hong Kong. This will allow them to get closer to Chinese consumers and investors,” Glazer told the Post in an interview.
Glazer said either the stock exchange’s main board or the proposed Third Board would be attractive to Israeli companies.
To be eligible for a main board listing, companies must demonstrate a HK$50 million (US$ 6.42 million) cumulative profit in the three years leading up to a listing, and a profit of at least HK$20 million in the year prior.
The proposed Third Board will feature lower entry requirements designed to support start-ups, technology firms and overseas companies.