Would be curious to hear from any Israeli followers on this board about their thoughts on the dual listing. I honestly thought there were already Prolor investors in Israel so other than the funds, I was not clear on the benefit. Anyone have any thoughts they are willing to share?
Excluding shares traded on TASE, their has been a turnover of more than 2.5M shares this week. That is huge for this stock and I would imagine various people have taken profits. My only observation if you plan to sell to get in lower is to watch out, any news can rocket this stock. For example, those that thought we had a big run when we were at $6 and sold to buy cheaper to this day obviosuly haven't been able to buy chepaer.
IMHO, if you're a long term investor (as I am), this is just the beginning of good things to come, why risk making $X extra on a trade when you could possibly loose out on $x^2. Market cap is just $370M as of today (at $8.02). Take a look at OPK (not much there IMHO) and it has a market cap of approximately $500M.
Time will tell...
Dual listing will have huge benfits on Prolor,
Today TASE announcet the Prolor stock will be included in some of TASE leading stock indexes.
The stock will be included in the TASE 75, 100 stock indexes (of 75 and 100 biggest company traded in TASE) and also in Tel-Tech, Tech-15 and BioMed indexes.
This inclusion means a huge demand by indexes funds and investors following the indexes
Here is the announcement in hebrew
Closed at $6.90 with appx. 395,000 shares traded in Israel. Big volume this week on the AMEX as well, I hope someone knows something and/or its institutions buying and not the index funds yet. Hopefully their is a good IFN licensing deal in the works that someone knows about.
Time will tell...
Most of the foreign companies marketed at the US have another listing at thier countries as well. It isn't something that will effect the pps. One way it allows people to invest at their country(something that would lower the pps here) but in the other hand the company can dilute either at their country or here - which will keep pps high.
Overall I think its a good thing for better recognition of the company.
BTW the company sits 5 minutes from my home. would like to join the company when I finish my degree.
INTERVIEW OPPORTUNITIES AVAILABLE
On Thursday, June 3, Avri Havron, Chairman, PROLOR Biotech, and Shai Novik, President, PROLOR Biotech, joined by PROLOR executives and board members, will visit the New York Stock Exchange and ring The Opening Bell to mark PROLOR’s recent listing on NYSE Amex.
PROLOR Biotech began trading on NYSE Amex on March 29 under the ticker symbol “PBTH”.
To celebrate this special occasion, CEO Avri Havron and President Shai Novik will be ringing the opening bell, joined by PROLOR executives and board members.
Thursday, June 3, 2010
NYSE Security Checkpoint at Exchange & Broad Streets
9:00 a.m. Media escorted into the building for bell ringing
9:30 a.m. The Opening Bell ring