NEW YORK--(BUSINESS WIRE)--Nasdaq Stock Exchange President Nelson Griggs and Bank Leumi (TASE:LUMI) CEO Rakefet Russak-Aminoach signed a first-of-its-kind strategic cooperation agreement in Israel to support Israeli mid to late growth stage companies that are interested in leveraging the global assets and insights from Nasdaq as well as the platform of LeumiTech to boost future growth and expansion.
As part of the agreement, LeumiTech, Leumi Group's hi-tech banking arm, and Nasdaq will sponsor a series of exclusive meetings for senior executives of private growth companies to discuss business, regulatory, financial and other aspects of growing global companies.
Throughout the sessions, the participants will meet thought leaders and executives of Nasdaq-listed companies in addition to other experts in investment banking, IPO legal and accounting, investor relations, communication and more.
The program's closing session will be held in New York.
“With the global success of the Israeli hi-tech industry, and Israel's position as one of the world's leading technology centers, it is natural that more Israeli companies will look to tap the public markets soon,” says Bank Leumi CEO Rakefet Russak-Aminoach. “Our exclusive agreement with Nasdaq, and the comprehensive guidance to be given to the companies’ executives, will help many Israeli hi-tech companies contemplating going public to understand the process and make the most appropriate decision for them. The partnership with Nasdaq is a logical fit, as it is the exchange of choice for more than 80 Israeli public companies.”
“Israel is a key market for Nasdaq, and we are proud and privileged that we have been such an integral part of the Israeli economy over the past 40 years. With over 80 listed companies and a strong pipeline of innovative companies, Israel is in fact the second-largest non-U.S. country represented on Nasdaq,” said Nelson Griggs, President of the Nasdaq Stock Exchange. “Israel continues to generate innovative growth companies across several sectors, and we look forward to this great partnership with Bank Leumi to support this market and leverage our presence even more."
“LeumiTech has become the financial home for the Israeli hi-tech industry and continues to formulate work methods and services that are uniquely suited to Israeli hi-tech companies. A first-of-its-kind cooperation with Nasdaq provides us with another significant tool, which can be used to empower Israeli companies deciding on how to proceed on a potential IPO to make an informed choice,” said LeumiTech CEO Yifat Oron. “Companies that will take part in the program are in a process of advanced growth with ties overseas. This program concentrates all the information they need and provides them with unique added value.”
About Bank Leumi
Bank Leumi (TASE: LUMI) is a leading financial corporation in Israel, providing comprehensive banking services and holding an approximate 30% domestic market share. Headquartered in Tel Aviv, Leumi has a presence in key financial centers across the globe, including London, New York, Palo Alto and Shanghai. In 2016, Leumi reported a net profit of NIS 2.8 billion ($728 million) with total assets under management reaching NIS 1,259 billion ($327 billion).
LeumiTech, the high-tech banking arm of the Leumi Group, was founded in 2014 with the main goal of promoting financing and development in the Israeli high-tech industry. Within a short period of time, LeumiTech has established itself as the financial home for Israeli high-tech by providing companies with a comprehensive package of services, including: credit and financing, investments and partnerships, unique products and services tailored to the industry and an innovative global platform for managing their international financial operations. Out of hundreds of start-ups established in Israel in 2016, over 60 percent chose to work with LeumiTech.