"We decided to have our common stock listed on the Tel Aviv Stock Exchange, in addition to the current listing on the NYSE Amex, after experiencing significant interest regarding our company from Israeli investors. We believe that the dual listing will result in a larger, more diverse group of investors in our shares," said David Aviezer, Ph.D., Protalix's President and Chief Executive Officer. "We expect that the listing on the Tel Aviv Stock Exchange will result in increased investor interest in our shares without affecting the rules and regulations of the U.S. Securities and Exchange Commission and the NYSE Amex to which we are currently subject."
"We are very pleased to welcome Protalix to the Tel Aviv Stock Exchange," said Ester Levanon, CEO of the Tel Aviv Stock Exchange. "The TASE is home to Israel's most innovative companies among them over 50 biotechnology companies and 51 dual-listed companies. The listing of Protalix, a leading company in the biotechnology sector, reflects the international leading position of the Tel Aviv Stock Exchange in the Hi-Tech and biotech industries"
The Company will continue to be subject to the rules and regulations of the NYSE Amex and the U.S. Securities and Exchange Commission.
Dual listing on the Tel Aviv Stock Exchange is allowed under Israeli law without any additional regulatory requirements for companies whose shares are listed on certain exchanges outside of Israel, including the NYSE Amex.
Trading on the Tel Aviv Stock Exchange occurs Sunday through Thursday from 9:45 am to 4:30 pm Israel time, except on trading holidays recognized by the Tel Aviv Stock Exchange.
The TASE Clearing House is electronically linked to the Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corporation, to automate the cross-border settlement of shares listed on both the TASE and a U.S. stock exchange.
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|SOURCE Protalix BioTherapeutics, Inc.|
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