18 August 2018 - 7 Elul 5778 - ז' אלול ה' אלפים תשע"ח
ISA approves dual-listing of companies on Singapore, HK, Toronto stock exchanges E-mail

The Israel Securities Authority (ISA) officially approved a bill in January to allow companies traded on the Singapore, Hong Kong and Toronto Stock Exchanges to dual-list on the Tel Aviv Stock Exchange (TASE).

The bill, put forward by the Chairman of the ISA, Shmuel Hauser, aims to expand duallisting to the stock exchanges of Hong Kong, Singapore and Toronto. The authority has enabled dual-listing on the London and New York Exchanges since 2000, allowing companies listed on these exchanges to also trade on TASE.

Hauser first announced his intention to expand the recognised dual-listing in May 2017. About 60 companies listed on the TASE today are also listed on London or New York, the authority said in a statement, adding that in recent years, dual-listed companies have made up 40%-60% of the Israeli exchange’s market capitalisation value. In a statement, the authority said that there is a growing interest among Israeli companies in listing on Asian exchanges, which are considered attractive markets for raising capital.

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Marubeni Corporation looking for expansion E-mail

As reported by Japan Times in January, Japanese trading house Marubeni Corporation is planning to establish an office in Israel, where cutting-edge technologies and information technology companies have gathered, according to Fumiya Kokubu, the company’s president.

Through the move, Marubeni aims to respond to the rapid advances of digital technologies, such as artificial intelligence, big data and “the internet of things”.

“We would like to establish a base from the perspective of new technology and new business models,” said Kokubu in a recent interview with Japan Times. The trading house has yet to decide on details, including when to open the office.

Also in Silicon Valley and China, the company will consider strengthening the functions of its existing offices and taking other measures to cope with changes in the business environment. In the spring of 2017, the company set up a cross-section strategy department on internet-of-things technology and big data.

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Japan’s Daiso stores to enter Israel E-mail

Japanese retail chain Daiso has announced it will open the first of two stores in Israel this summer. Union Group, the franchise holder for H&M and COS in Israel, which is the official importer for Japanese cars Toyota and Lexus, will operate the stores.

Daiso, founded in 1977, is a chain of stores using the model of “every item for a dollar”. In Israel, it will compete with chains such as Max Stock and Hastock, due to its combination of large stores and cheap products.

The chain is expected to market up to 100,000 products at a fixed low price, including design and accessories products for different areas of the home. Most of the products to be offered in the stores are made exclusively for the Japanese chain’s private label.

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NTT Docomo Ventures invests in Otonomo E-mail

Japan’s NTT Docomo Ventures Inc recently announced a US$3 million investment in Otonomo, an Israeli developer of personal car data systems, which provides a cloud-based platform.

NTT Group says Otonomo complements its connected car platform business and vehicle data service development, and thus it is expected to contribute to future business creation. Based in Herzliya and California in the US, the Israeli company is developing a connected car ecosystem to share and integrate vehicle data.

Ultimately, Otonomo will sell that data to insurance companies, retailers, car manufacturers, municipalities, etc. Founded in 2015, the company raised US$25 million last year, and with the latest investment has raised US$41 million to date.

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Data platform provider iguazio sets up Asia-Pacific office E-mail

Israel-based data platform provider iguazio has opened its first Asia-Pacific office in Singapore, opening up a range of opportunities for cybersecurity, IoT, smart city and other initiatives in the region.

In September last year the company announced that Singapore- based transportation service Grab was its first marquee customer. Since then, the company has been growing its customer base across industries such as finance, automotive, IoT and telecommunications. The company says its customers demand real-time data processing, artificial intelligence and machine learning.

In July 2017 iguazio raised US$33 million in Series B funding from investors including Verizon Ventures and Dell Technologies Capital. This funding has helped to expand iguazio’s opportunities in Asia-Pacific.

The company also sees potential in artificial intelligence. Global market intelligence firm IDC predicts that the value of big data solutions that underpin AI and machine learning will grow to US$203 billion in 2020.

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