The road to legalization passes through the stock exchange: Tel Aviv-Cannabis Index – Capital Market Launched

The sector is maturing:

The stock market move in the cell
+ 0.96%

Base:1,672

opening:1,650

Tall:1,703

low:1,650

change:688,765

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Announces the launch of the Tel Aviv-Cannabis Index, which will consist of shares included in the cannabis sub-industry, in the biomed industry. The new index consists of 9 shares in the field, which are the shares of the largest cannabis companies on the stock exchange and the aggregate value reaches NIS 1.7 billion.

According to the report, the weight ceiling of a stock will not exceed 15% relative to the index. The management of the stock exchange believes that “the field of medical cannabis in Israel has developed in recent years and although it has not yet reached maturity, it seems that it has matured and experience in the capital market has already gained experience with companies in this field.”

“Following this, on November 1, the TASE launched a new sub-industry dedicated to this field. The cannabis sub-industry includes companies whose main business is in the fields of research, cultivation, breeding, sale or production and marketing of medical cannabis products,” the press release said.

As stated, the market value of all the shares in the index is estimated at NIS 1.7 billion, with the value of public holdings estimated at NIS 700 million. The distribution in the index is by belonging to the shares included in the SME60 index (one share) and Tel Aviv Growth (8 shares).

“The index can be, among other things, an indication of the trend of change in the value of the companies included in it as well as a benchmark for active mutual funds that offer exposure to this young and growing industry and therefore the stock exchange decided to launch it,” the stock exchange said in a statement.

“The market value of the 9 cannabis companies included in Tamar (the stock index for indices) is relatively low and therefore, for the time being, the index does not meet the necessary conditions in order to be a basic asset for mutual funds and imitation financial products,” they added.