On 30 December 2018 the Corporate Finance Department at the Israel Securities Authority issued its Staff Legal Bulletin (110-01) – Dual-listed companies: issuance, reporting, listing and delisting (see the bulletin here). It is a summary of the most up-to-date information on the issuance, reporting, listing and delisting of dual-listed companies, intended to clarify and reflect those processes for dual-listed companies and companies considering dual listing.

The bulletin addresses, among other things:

  • the listing process of a dual-listed company, including the:
    • registration document;
    • listing permit;
    • undertaking to adopt Israeli Companies Law provisions;
    • conditional listing; and
    • listable securities;
  • the issuance process of a dual-listed company, including the:
    • prospectus;
    • supporting documents;
    • issuance of preferred stock; and
    • issuance of bonds;
  • the disclosure obligations of dual-listed companies; and
  • the delisting process.

For further information on this topic please contact Nitzan Sandor, Sharon Rosen or Ron Sitton at Fischer Behar Chen Well Orion & Co by telephone (+972 3 694 4111) or email (nsandor@fbclawyers.com, srosen@fbclawyers.com or sitton@fbclawyers.com). The Fischer Behar Chen Well Orion & Co website can be accessed at www.fbclawyers.com.

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