Fladgate advises BATM on its Secondary Listing on the Tel Aviv Stock Exchange

Our team: Avram Kelman, David Robinson

Fladgate advises BATM Advanced Communications Ltd on its second on the Tel Aviv Stock Exchange

Fladgate was delighted to advise BATM Advanced Communications Ltd (BATM) on its application to list its ordinary shares on Tel Aviv Stock Exchange. Contemporaneously with a placing and subscription to raise $18 million, the listing of BATM’s ordinary shares on TASE completed on 11 July 2019.BATM is the leading Israeli provider of real-time technologies for networking solutions and medical laboratory systems.

BATM pursued the secondary listing in order to:

  • provide a local trading platform for the Israeli-based institutions that have recently become shareholders in the Group;
  • expand the accessibility of its shares to a wider pool of investors; and
  • increase the breadth and depth of the Group’s shareholder base, with the aim of ultimately improving the liquidity and tradability of its shares.

BATM expects to become a constituent of the TA-90 index, which is one of TASE’s leading indices and tracks the 90 shares with the highest market capitalisation that are not included in the TA-35 index.

Commenting on BATM’s latest transaction, corporate partner, Avram Kelman said: “This is an exciting time for BATM they achieve with their secondary listing on the Tel Aviv Stock Exchange. We have built a strong relationship with the team and it’s great to see the progress and growth the business is making.”

BATM was advised by Corporate Partners’ Avram Kelman and David Robinson at Fladgate.

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