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Singapore, Tel Aviv stock exchanges team up to attract tech companies

Singapore Exchange Ltd. (SGX) and the Tel Aviv Stock Exchange (TASE) will allow companies to list on both bourses at the same time, in a bid to attract more startups and provide a bridge between Israel's thriving tech scene and Asian markets, SGX said May 14 in a press release.

The exchanges will engage with companies that need funds to fuel their market expansions in Asia and beyond, assist them in the pre-listing stage and facilitate the listing process. The exchanges' network and platforms will also provide issuers with post-listing support, SGX said.

"Israel, which is known as a 'startup nation', enjoys the highest density of startups, venture capital investments and largest R&D spending per capita in the world," it said in the release. "Singapore, with the government's supportive policies and commitment to invest in research and innovation, has an established reputation as one of the strongest and most diverse startup ecosystems globally."

The move will allow Israeli companies to tap an Asian investor base while also benefiting from domestic demand, TASE CEO Ittai Ben-Zeev said.

"We see a huge potential in SGX as a global tech hub, and as a gateway to Asian capital markets through quick and efficient fund raising process," he said.