Over 10 Foreign Stock Exchanges ‘Show Interest’ In Buying TASE Stake

February 28, 2018 | Over 10 foreign stock exchanges have “shown interest” in buying a stake in the Tel Aviv Stock Exchange (TASE), a source close to the exchange told Reuters Tuesday. “More than 10 exchanges have signed nondisclosure agreements,” the source said but did not provide any further details. Last September, the TASE became a for-profit exchange and offered “to buy out its shareholders to list on its own bourse in 2019 at a value of about $150 million,” Reuters reported. CEO Itai Ben-Zeev said this month “TASE has commitments from member banks to buy back 71.7 percent of their shares, a stake that will be sold to a large foreign exchange as a strategic partner ahead of going public, according to Reuters. Member banks would hold a 22 percent stake in TASE. TASE has until April 18 to accept this share buyback offer, where it can buy back its shares from the member banks