SINGAPORE (THE BUSINESS TIMES) – Israel-based diamond technology firm Sarine Technologies on Sunday (June 27) announced that its application for a dual listing of its shares on Israel’s Tel Aviv Stock Exchange (TASE) has been approved.
Trading on TASE will commence on July 5 under the symbol SARN, said the company in an announcement on the Singapore Exchange (SGX).
To recap, Sarine’s move to list on TASE comes as SGX and TASE recently authorised the dual listing of companies whose primary listing is on either one of the venues.
The company previously said that the dual listing would expose the company to a broader investing public – not just in Israel, but also in the US. This is because the time difference between Tel Aviv and the US is only seven hours, versus the 12-13 hour time difference to Singapore.
Sarine added that it has “progressively generated growing interest” in its business and equities in the Israeli investment market, making it “natural” to want to take advantage of the development to seek a dual listing on TASE.
Shares of Sarine closed on Friday at 74.5 cents, up 1.4 per cent or one cent.
