RADA Announces its Plans to Dual-List its Ordinary Shares on the Tel Aviv Stock Exchange
RADA Electronic Industries Ltd. (NASDAQ: RADA) has announced its plan to seek a dual listing on the Tel Aviv Stock Exchange (TASE), in addition to its existing NASDAQ listing. This strategic move, approved by the Board of Directors, aims to broaden its investor base and attract more interest from Israeli institutions. RADA focuses on advanced radar solutions and avionics systems, targeting sectors like military protection and border surveillance. The company will maintain compliance with U.S. Securities and Exchange Commission regulations for foreign private issuers.
- Approval of dual listing on TASE to attract Israeli investors.
- Continued trading on NASDAQ assures current investor confidence.
- None.
The new listing will be in addition to its current Nasdaq listing
NETANYA, Israel, Jan. 11, 2021 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd. (NASDAQ: RADA) announced today that its Board of Directors has approved the submission of a listing application to have its ordinary shares dual-listed on the Tel Aviv Stock Exchange (“TASE”). Upon listing on the TASE the Company's ordinary shares will continue to trade as usual on NASDAQ and the Company will continue to comply with the reporting and disclosure requirements of the U.S. Securities and Exchanges Commission applicable to foreign private issuers.
Yossi Ben Shalom, Chairman of the Board of Directors of RADA, stated: "We look forward to our listing on the Tel Aviv Stock Exchange, which we believe will enable us to broaden our investor base and bring us an increased interest and investment from Israeli institutions. For Israeli investors, we believe that the TASE dual-listing will provide them with an attractive investment and growth opportunity in RADA.”
About RADA Electronic Industries Ltd.
RADA is a global defense technology company focused on proprietary radar solutions and legacy avionics systems. The Company is a leader in mini-tactical radars, serving attractive, high-growth markets, including active military protection, counter-UAS, critical infrastructure protection and border surveillance.
Contact Information
| Company Contact: | Investor Relations Contact: |
| Avi Israel (CFO) | Ehud Helft |
| Tel: +972-765-386-200 | GK Investor & Public Relations |
| mrkt@rada.com | Tel: +1 646 688 3559 |
| www.rada.com | rada@gkir.com |
Forward Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such risk uncertainties and other factors include, but are not limited to, the impact of COVID-19 on our company and our industry, changes in general economic conditions, risks in product and technology developments, market acceptance of new products and continuing product demand, level of competition and other factors described in the Company's Annual Report on Form 20-F and other filings with the Securities and Exchange Commission.
FAQ
What is RADA's new listing plan?
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