Israeli Digital Ad Firm Matomy to Dual-list Shares on Tel Aviv Stock Exchange

Move comes in addition to firm's existing listing in London, is meant to make shares more accessible to Israeli investors.

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The Tel Aviv Stock Exchange (TASE).
The Tel Aviv Stock Exchange (TASE).Credit: Bloomberg
Steven Scheer

REUTERS - Israeli digital advertising firm Matomy Group said on Monday it plans to list its shares on the Tel Aviv Stock Exchange in addition to its existing listing in London.

It didn't specify an exact day, only saying it expects trade to begin shortly, after finalizing certain settlement mechanics related to the dual listing in Tel Aviv.

"We are confident that this listing will make our shares more accessible to Israeli investors, and enhance our share liquidity, trading volumes, and the number of our investors," said Ofer Druker, Matomy's chief executive.

"Our continued growth and business success, combined with the dual list on the Tel-Aviv Stock Exchange, will further enhance our market capitalization and liquidity, benefiting existing and new investors."

Last week, Matomy projected flat 2015 revenue of $256-$259 million, reiterated an outlook of adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the range of $25.3-25.7 million for 2015.

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