RADA Joins TASE’s Dual Listed Companies
RADA Electronic Industries Ltd. announces its dual listing on the Tel Aviv Stock Exchange (TASE), effective February 2, 2021, alongside its ongoing presence on NASDAQ (RADA). With a market cap over NIS 1.4 billion, RADA aims to join multiple leading TASE indices by April 2021. The dual listing will enhance investor access without additional reporting requirements beyond those mandated by the U.S. SEC. RADA specializes in tactical radars and avionics, contributing to high-growth markets including military protection and border surveillance.
- Dual listing on TASE expected to enhance investor access.
- Market cap over NIS 1.4 billion indicates strong valuation.
- Expected inclusion in multiple TASE indices increases visibility.
- None.
The shares of the company, which are currently listed on NASDAQ (NASDAQ: RADA), will also be traded on The Tel Aviv Stock Exchange (TASE: RADA) starting on February 2, 2021
TEL AVIV, Israel, Feb. 01, 2021 (GLOBE NEWSWIRE) -- RADA Electronic Industries Ltd., a leading global developer and manufacturer of tactical radars for the maneuver force, which is listed on NASDAQ, published its listing documents to the TASE and will start trading also on the TASE (Tel Aviv Stock Exchange) under the RADA ticker symbol.
The market cap of the Company's shares is over NIS 1.4 billion and therefore in early April 2021 it is expected to join the leading indexes of TASE: TA-90, TA-125, TA-125 Fossil Free, TA-SME150, TA Global-BlueTech, TA Tech-Elite, TA-AllShare, TA-Technology, TA-Rimon and TA Industry.
Trading of the company's shares on NASDAQ will continue as usual and the company will continue to be subject to the reporting and disclosure requirements of the U.S. Securities and Exchange Commission (SEC). As part of the dual listing, the company will not be required to submit additional reports other than those required in the United States.
RADA is a global defense technology company, focused on proprietary radar solutions and avionics systems. The company is a pioneer of mini-tactical radars for new and emerging markets, offering radars for active military protection, counter-drone solutions, critical infrastructure protection and border surveillance.
Dov Sella, CEO of RADA: “We are joining The Tel Aviv Stock Exchange in a period of unprecedented growth in the tactical radars market segment. By dual listing on TASE, we can increase the exposure of Israeli capital market investors to the company and allow them to benefit from its expected growth and value creation."
Ittai Ben Zeev, CEO of TASE: “We congratulate RADA for its choice to join the family of TASE with a dual listing. Dual listing on TASE has multiple advantages for both the company and investors, and we believe that any Israeli company, even if already listed for trade overseas, should be a part of the Israeli capital market. TASE offers multiple advantages, such as expansion of the pool of potential investors, longer trading hours, inclusion in TASE indices and more."
About RADA
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 critical infrastructure protection, border surveillance, active military protection and counter-drone applications.
Company Contact:
| Company Contact: Avi Israel (CFO) Tel: +972-9-892-1111 mrkt@rada.com www.rada.com | Investor Relations Contact: GK Investor Relations Ehud Helft Tel: 1 646 201 9246 rada@gkir.com |
FAQ
What is the significance of RADA's dual listing on TASE?
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