TASE to Open New High-Tech List
(Communicated by Tel Aviv Stock Exchange Spokesman)
The TASE Directorate Thursday, 18.2.2000, approved the list of companies that will comprise the new "Tal-Tech" – Tel Aviv technology index. The new index will open on 2 April 2000 and will operate according to market value, similar to the other indices. Tal-Tech will include high technology companies in the fields of electronics, computers, life sciences and venture capital funds. A survey conducted by TASE showed that in 1999, Tal-tech stocks earned a return of 160%, compared to 62% on the TA-100 and 73% on the others index. The minimum value of a new listing on Tal-Tech will be NIS 40 million and the maximum weight of a single share will be limited to 6% so as to reduce the affect of the ‘heavy’ stocks on the index. The new list will increase the exposure of high technology companies to the public and can be used as a benchmark for investors and portfolio and funds managers.