012 Smile.Communications Ltd. Shares, to be Listed on Tel Aviv Stock Exchange in Addition to NASDAQ Listing
012 Smile.Communications Ltd (NASDAQ: SMLC) announced today that the company has obtained approval to list its shares for trading on the Tel-Aviv Stock Exchange (TASE). Trading on the TASE will commence next week. The shares of 012 Smile.Communications Ltd. will continue to be listed on the NASDAQ Global Market and will continue to be subject to the rules and regulations of the U.S. Securities and Exchange Commission and the NASDAQ Stock Market.
“By listing our shares on TASE we enable Israeli investors, and in particular institutional investors, to take part in our success and overcome various restrictions and time-difference issues which limit their ability to trade in shares of companies listed on foreign exchanges,” said Mrs. Stella Handler CEO of 012 Smile. Communications Ltd.
Additional advantages of the dual listing are longer trading hours, lower trading costs and certain tax benefits for Israeli investors. Since the TASE reporting requirements for dual listed companies are nearly identical to those required by the U.S. Securities and Exchange Commission, dual listing is not an added burden to the Company and its management.