Israel-based Sarine Technologies Ltd., a leading supplier of diamond manufacturing equipment, is seeking a dual listing of its shares for trading on the Tel Aviv Stock Exchange (TASE) to broaden its access to global investors. The Singapore Exchange (SGX), where Sarine is already listed, and TASE have recently authorised the dual listing of companies.
SGX will continue to remain Sarin’s primary listing venue, where its IPO debuted on 8th April, 2005. The company hopes to tap the Israeli investment market, where there is growing interest in its business and equities. Sarine also expects the new listing to be favourable to American investors, as the time difference between Tel Aviv and the US is only 7 hours, as opposed to the 12 to 13-hour time difference to Singapore.
Daniel Glinert, Executive Chairman of the Board of Sarine Technologies, commented: “We are further of the opinion that seeking such dual listing at this time is especially opportune, given the significant post-pandemic recovery in our business and the increased interest in our new polished diamond offerings relating to provenance and manufacturing sustainability and responsibility traceability and documentation, as well as our revolutionary new e-Grading initiative.”