NEW YORK, Dec. 26 – Compugen, an Israeli bioinformatics company that trades on the Nasdaq stock exchange, said Wednesday that it had received approval to list its shares on the Tel Aviv Stock Exchange.
The move towards a dual listing is aimed at increasing interest in Compugen’s stock by providing easier access for investors in Israel to trade the company’s shares.
“The dual listing will enable Israeli and international investors, who currently do not trade shares in the US because of various restrictions, costs or time differences, to trade in Compugen stock,” the company said in a statement. “Advantages of a dual listing include a longer trading day and access to the lower trading costs on the Tel Aviv Continuous Trading system.”
Compugen said that it would become the first biotechnology company to be traded on the Tel Aviv Stock Exchange. Most Israeli high-tech companies seek to list their shares on the American or European stock exchanges, which offer bigger and more active markets.
Compugen said its shares would begin trading on the TASE on January 7.