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Securities that do not comply with the requirements that permit them to be traded on the Regular List according to the TASE Rules and Regulations are eventually delisted from the TASE.

When are Securities Delisted from the TASE? 

The TASE Board of Directors will delist a security if it has not been traded within the regular list for a period exceeding twelve months, and the terms for its return to the regular list have not been met.

Securities  are not traded within the regular list if they were transferred to the Maintenance List or suspended from trading.

Notwithstanding the above, the TASE Board of Directors may postpone delisting up to a maximum period of 24 months.
Other Cases of Delisting  

When the value of convertible bonds held by the public is lower than NIS 1.6 million, or when the value of a corporate bond series is lower than NIS 1.6 million, the bonds are delisted within 60 days from the end of the quarter during which their value fell below the required level.

If a permanent liquidator has been appointed to a company, all of its securities will be delisted, no later than 180 days after the appointment.

Can a Company Delist from the TASE Voluntarily?

 

·       A company can delist from the TASE after carrying out a tender offer in which all of the company’s publicly held shares are bought. When no shares remain with the public, the company’s shares are delisted.

·       A company can delist voluntarily (without a tender offer) after carrying out the procedure specified in Section 350 of the Companies Law.

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