Securities Law Client Update: The Israel Securities Authority is Promoting Legislation to Allow the Listing on the TASE of Dual-Listed Companies with Multiple Classes of Shares
Categories: Capital Markets
The Israel Securities Authority (ISA) has recently published a proposed amendment to the Israel Securities Law which would enable a company – whether Israeli or non-Israeli – whose shares are listed for trade on a stock exchange outside Israel to also list for trading on the Tel-Aviv Stock Exchange (TASE) even if the listed company’s share capital includes more than one class of shares. In that context, we note that many global leading stock exchanges permit listed companies to have a share capital that includes more than one class of shares, which provide for different voting rights and dividend distribution rights.
