The new platform by the Tel Aviv Stock Exchange, in cooperation with fundit, is designed for trading by institutional and accredited investors, from Israel or outside it.
fundit is the leading digital fundraising and investment platform in Israel, supervised by the Securities Authority.
Companies that raise funds through fundit and register to TASE UP are private companies interested in raising funds from institutional and accredited investors, however, they do not conduct IPOs, they remain private and are not obliged to report under the Securities Law.
The TASE UP system shares the same infrastructure of the Stock Exchange's trading and clearing systems, therefore, it is accessible and recognized by institutional investors.
Private companies that are registered to TASE UP are not obliged to publish regular reports or a prospectus when they register securities for trading.
Until recently, the platform was open for listing corporate bonds and commercial securities only.
Following the amendment of the Stock Exchange Regulations, along with the approval of the Securities Authority, it is now possible to register for trading other types of securities on the TASE UP platform:
A company interested in raising $5M-$15M and register to TASE UP can conduct the offering by fundraising on fundit.
Companies that are found suitable for fundraising and register to TASE UP will be assisted by fundit's underwriting team in publishing and promoting the fundraising page.