Weekly summary of the Tel Aviv Stock Exchange

Trading on the Tel Aviv Stock Exchange in the fourth and shortest week of March was characterized by price declines in most of the leading stock indices.
Price increases characterized the government and corporate bond indices.

Trading this week was conducted against the background of the publication of financial reports for 2020 by the listed companies, and the continuation of a rapid vaccination of the population in the country and a decrease in the morbidity rate along with the return of the economy to almost full activity.

In the stock market

This week, up to NIS 119 million was raised in the Tel Aviv stock market in four public offerings of shares.
Of these, up to NIS 110 million were raised in initial public offerings (IPOs) by the three technology companies – Trakant, Prime Energy and Chekratech, which join 31 new companies listed this year in the stock market, including 22 high-tech companies and R&D partnerships. . In other words, since the beginning of the year, 34 new companies and partnerships have been listed on the stock exchange.

The TASE UP platform, which has so far been used to raise bonds from institutional investors, has also been expanded to the stock market, the first to raise in this way is the start-up company VEEV.

In the bond market

Up to NIS 308 million will be raised today in two public bond issues by real estate companies.
This week, about NIS 8.3 billion was raised in bonds listed on TASE UP by Energian Israel in dollar bonds for foreign and Israeli institutional investors abroad.

Stock indices

The Tel Aviv-35 index fell by 0.6% this week, and has risen by 5.3% since the beginning of the year.
The Tel Aviv-90 index fell by 0.7% this week, and has risen by 4.6% since the beginning of the year.
The Tel Aviv-125 index fell by 0.8% this week and rose by 4.4% since the beginning of the year.
The Tel Aviv-SME60 index fell by 2.4% this week, and has risen by 12.4% since the beginning of the year.
The Tel Aviv Real Estate Index rose by 3.3% this week, and has risen by 2.2% since the beginning of the year.
The Tel Aviv 5 Banks Index rose by 1.5% this week, and has risen by 15.0% since the beginning of the year.

Bond indices

The index of fixed-rate shekel government bonds rose by 0.9% this week, and by 1.4% since the beginning of the year.
The Tel Bond-60 index rose 0.3% this week, and has risen 1.5% since the beginning of the year.
The Tel Bond-Shekel index rose by 0.4% this week, and rose by 0.1% since the beginning of the year.

Raisings – Issuance of shares

Recruitment in Tel Aviv by new companies (IPOs):
Up to NIS 110 million was raised this week by three new technology companies, joining 31 new companies in the stock market since the beginning of the year, including 18 high-tech companies and 4 R&D partnerships:

• NIS 61 million was raised by Prime Energy in a non-uniform offer to institutional investors (Book Building), at a company value of NIS 311 million after the IPO. The company is engaged in the development and operation of systems for generating electricity from solar energy sources.
• Up to NIS 29 million will be raised today by Chakratech – about NIS 20 million will be raised in a non-uniform offer to institutional investors (Book Building) and about NIS 9 million will be raised in a uniform offer to the public, according to a company value of NIS 194 million after The company is engaged in the development of kinetic energy storage systems for charging electric vehicles.
• Approximately NIS 20 million was raised by Trakant in a non-uniform proposal for institutional investors (Book Building), at a company value of approximately NIS 67 million after the IPO. The company is developing a system for optimizing land transportation activities.

Recruitment in Tel Aviv by traded companies

This week, NIS 9 million was raised in the Tel Aviv stock market by issuing shares to the public by the construction company New Horizon.

Raising in TASE UP shares

The UP, TASE trading platform, which has so far been used to raise bonds from institutional investors, has also been expanded to the stock market. The platform is the first of its kind that allows high-tech companies, venture capital funds, funds investing in real estate abroad and credit funds to enjoy unique access to institutional investors. Eligible, and to raise funds without becoming public companies that are required to report under the Securities Act and without publishing a prospectus as is usually required of companies wishing to raise capital on the stock exchange.
The first to raise in this way is the start-up company VEEV Group (foreign), which is engaged in the development of technology for prefabricated construction, which raised about NIS 330 million in shares listed for trading on TASE UP as of March 22, 2021.

Recruitment abroad by a dual company

The technology company Mae Size, whose shares are traded simultaneously in the United States (symbol: MYSZ), will today raise about NIS 11 million by issuing shares to the public in the United States. This is the company’s second IPO abroad this year, in the previous IPO the company raised a similar amount.

Issuance of corporate bonds

Raising in IPOs to the public
Up to NIS 308 million will be raised today in two public offerings by real estate companies:

• Up to NIS 208 million will be raised by Blue Square Real Estate by expanding a series of CPI-linked bonds, a 6.9-year maturity, a yield to maturity of 1.3%, a rating of + A “degrees” and 1A “Midroog”. The company is expected to redeem tradable bonds in the amount of NIS 690 million in the years 2022-2021.
• Up to NIS 100 million will be raised by Electra Real Estate through a new series of shekel bonds with a fixed interest rate of up to 2.35%, for a final redemption in May 2030 and a rating of 3A “Midroog”. The company is expected to redeem negotiable bonds in the amount of approx. NIS 70 million in the years 2022-2021.

TASE UP Bonds

Approximately NIS 8.3 billion was first raised by Energian Israel, a designated company of the oil and gas company Energian, in bonds registered for trading on TASE UP. The Company raised the amount through four series of dollar bonds (4.500% interest to maturity in March 2024, interest rate 4.875% to maturity in March 2026, interest rate 5.375% to maturity in March 2028, and interest rate of 5.875% to maturity in March 2031) to foreign and Israeli institutional investors abroad.

Issuance of government bonds

This week, the Ministry of Finance issued NIS 2.8 billion in bonds on the Tel Aviv Stock Exchange.

Various
Unemployment rate. The Central Bureau of Statistics published that the rate of employed persons temporarily absent from work due to the corona + the unemployed, decreased from 15.4% in January 2021, to 14.0% in February 2021. On the other hand, the rate of unemployed in the labor force increased from 4.4% in January 2021, to 5.0% February 2021.
Bi-weekly data show that the proportion of employed persons who are temporarily absent from work due to the corona + the unemployed, dropped from 15.5% in the first half of February 2021, to 12.6% in the second half of the month. On the other hand, the unemployment rate in the labor force rose from 4.6% in the first half of February 2021, to 5.6% in the second half of the month.
Combined index. The Bank of Israel announced that the composite index for the state of the economy for February 2021 increased by 0.4%, after a decrease of 0.4% in the previous month, due to the beginning of easing the restrictions on the third closure due to moderation due to the comprehensive vaccination campaign in Israel (December 2020).
A short trading week. The fourth trading week of March is a shortened week, four trading days, following the elections to the 24th Knesset that took place on Tuesday, March 23rd.

Data on indices and foreign exchange stock indices: