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BATM set to join Israel's premier stocks index following secondary listing

The secondary listing will allow Israeli-based institutions that recently became shareholders in the group to trade the stock, while it will also provide BATM with a wider a deeper pool of investors, the company said

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The TA-90 index is home to the 90 largest Israeli companies measured by market capitalisation

BATM Advanced Communications Ltd (LON:BVC) said it expects to join the premier TA-90 index after its shares debut on the Tel Aviv Stock Exchange (TASE) on Thursday (July 11).

The networking and medical labs specialist, which will continue to trade on the London Stock Exchange’s Main List, said it would join the TASE after raising US$18mln last month.

The secondary listing will allow Israeli-based institutions that recently became shareholders in the group to trade the stock, while it will also provide BATM with a wider a deeper pool of investors, BATM said.

“By expanding the breadth and depth of our shareholder base, combined with sustained growth, we look forward to increasing the liquidity of our stock and delivering value to all investors,” said chief executive Zvi Marom.

Quick facts: BATM Advanced Communications Ltd

Price: 112.5 GBX

LSE:BVC
Market: LSE
Market Cap: £495.31 m
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