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Hagit Ross Insights & News /
February 21, 2021
SPAC: A Dream Worth Half a Billion Shekels
SPAC: A Dream Worth Half a Billion Shekels
In recent months, the IPO market has reached a boil. It seems anyone with any kind of business is dreaming about joining the Israeli stock market. Lets look at the figures. From 2008 (the outbreak of the subprime crisis) through 2019, 76 new companies entered the Israeli stock market through an IPO process (an average of approximately 6.33 companies per year). In 2020 alone, 27 new companies entered the Israeli stock market, and in January 2021, seven new companies entered the Israeli stock market*.
November 15, 2020
ISA: Expanding Disclosure on Independent Committees
ISA: Expanding Disclosure on Independent Committees
The Israel Securities Authority will soon require public companies to disclose details about independent committees tasked with overseeing transactions with controlling shareholders. The staff position was put together due to the increased need for supervision and oversight of decision-making processes in transactions between public companies and their controlling shareholders.
October 19, 2020
Barnea Represented Canomed in Issuing a Series of Options
Barnea Represented Canomed in Issuing a Series of Options
Hagit Ross, a partner in our Capital Markets Department, represented Canomed, a company engaged in the cultivation, marketing, and direct sale of medical cannabis, in the issuance of two options series. The issuance is expected to reach a value of NIS 6 million. Canomed is one of the first companies to promote the purchase of pharmacies licensed to sell medical cannabis, thus providing the company direct access to the end consumer. Canomed itself already owns several such pharmacies.
July 9, 2020
Remuneration Policy: New Reliefs for Officers’ Insurance
Remuneration Policy: New Reliefs for Officers’ Insurance
The Israel Securities Authority announced a new relief for public companies regarding directors’ and officers’ liability insurance. This relief will enable companies to include in remuneration policies only the scope of the insurance coverage, without the other parameters required to date.
April 7, 2020
ISA and TASE Publish Reliefs for Public Companies and Reporting Corporations
ISA and TASE Publish Reliefs for Public Companies and Reporting Corporations
In light of the global coronavirus crisis, the Israel Securities Authority (ISA) has published several steps toward easing the burden on public companies and reporting corporations whose securities are traded on the Tel Aviv Stock Exchange.
May 7, 2019
Dual-Listed Companies: Updated Information
Dual-Listed Companies: Updated Information
The Israel Securities Authority has published a position paper summarizing updated information about the processes for listing and delisting dual-listed companies on the Tel Aviv Stock Exchange and additional stock exchanges abroad. The position paper provides information both to dual-listed companies and companies considering dual listing.
April 28, 2019
TASE Promotes a Proposal for the Entry of Nostro Players as TASE Members
TASE Promotes a Proposal for the Entry of Nostro Players as TASE Members
On April 7, 2019, the Tel Aviv Stock Exchange (TASE) published a proposed amendment to the Stock Exchange Regulations, whereby the barriers to the entry of new TASE members will be removed and for the first time Israeli entities will be allowed entry into the stock exchange even if they operate exclusively for nostro.
March 21, 2019
Crowdfunding – The New World of Investments in Israel and in the United States
Crowdfunding – The New World of Investments in Israel and in the United States
The crowdfunding model enables the general public investment opportunities that were previously reserved only for sophisticated or institutional investors. In this article we examine the Israeli and American models and why the Israeli legislators should find ways to make the crowdfunding channel more attractive, for both investors and companies seeking funding.
March 20, 2019
Barnea Represented Danel Ltd. in the Acquisition of Levinger Group
Barnea Represented Danel Ltd. in the Acquisition of Levinger Group
Our firm represented Danel Ltd. in a deal to acquire 51% of Levinger Group. This marks a strategic move by Danel to expand into the private health field.
January 23, 2019
Seminar: Corporate Finance through Issuance and Crowdfunding
Seminar: Corporate Finance through Issuance and Crowdfunding
We hosted today the Israeli Directors' Union for a seminar on corporate finance. Dr. Zvi Gabbay and Hagit Ross from our Capital Markets Department discussed capital raising in the US and Israel.
January 2, 2019
"High" Companies
"High" Companies
The Israel Securities Authority published an announcement to investors with various emphases about public companies operating in the medical cannabis market. Its announcement calls investors’ attention to several parameters they should consider when deciding whether to invest in securities of public companies operating, or expecting to begin operating, in the medical cannabis market.
January 2, 2019
Liability of Officers and Functionaries in an Insolvent Corporation
Liability of Officers and Functionaries in an Insolvent Corporation
Chapter 8 of the new Insolvency and Economic Rehabilitation Law addresses the liability of officers and functionaries. The law’s main innovation is that - beyond liabilities toward the corporation, which already existed prior to the enactment of the law, such as fiduciary duty and duty of care - special liability will also be imposed on the corporation’s officers and functionaries.
December 13, 2018
ISA Proposes Stock Exchange Reporting in English
ISA Proposes Stock Exchange Reporting in English
With an eye to these other major markets, the Israel Securities Authority (ISA) has promulgated draft regulations for public comment that enable all reporting companies in Israel, who so desire, to publish their reports in English.
October 29, 2018
Israel Securities Authority: Cyber Event Requires Reporting
Israel Securities Authority: Cyber Event Requires Reporting
In light of the increasing magnitude and scope of cyber threats, as well as growing concerns about disruptions to public companies’ operations, the Israel Securities Authority (ISA) has published a Staff Position Statement addressing public companies’ required disclosures for all cyber-related issues.