The management of Mellanox Technologies, the computer semiconductor and component producer whose shares have been trading both on the Tel Aviv Stock Exchange and the Nasdaq exchange in the United States, said Thursday the company will be delisted from the Tel Aviv exchange. Mellanox has been a real standout on TASE in recent years and is currently the sixth largest company on the local stock exchange.
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Last week, Mellanox chairman and CEO Eyal Waldman told TheMarker his company is leaving the Tel Aviv exchange because institutional investors here have opposed his serving both as chairman and CEO of the company.
In Thursday’s announcement, however, Mellanox said the decision to delist was being taken in an effort to become subject to a single set of stock-trading regulations. “Under applicable Israeli law, the delisting of Mellanox’s ordinary shares from trading on the TASE is expected to become effective three months from the date of request,” Mellanox added.