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Date Announced: 01 May 2012
Medical and aesthetic laser system vendor gains rapid approval of dual listing.
MONTGOMERYVILLE, Pa. & TEL AVIV, Israel--(BUSINESS WIRE)--PhotoMedex, Inc. (NasdaqGS: PHMD - News) today announced that its application for registration of shares of its common stock for dual listing on the Tel-Aviv Stock Exchange (the “TASE”) has been accepted and will commence trading on the TASE on May 3, 2012 under the ticker symbol PHMD.TA. The Company’s common stock will continue to be listed on the NASDAQ Global Select Market in the United States under the ticker symbol PHMD and will remain subject to the rules and regulations of NASDAQ and the U.S. Securities and Exchange Commission.
"We congratulate and welcome PhotoMedex to the Tel-Aviv Stock Exchange,” said Ester Levanon, CEO of the TASE. “The TASE is the home of Israel’s innovative and growing companies and with PhotoMedex’s significant market value it will be part of the TASE's major indices. We are committed to the TASE being a leading and sophisticated stock exchange, especially in the technology and biotechnology areas by bringing significant companies like PhotoMedex to the local market.
We encourage Israeli oriented companies traded abroad to dual list on the TASE and believe that it provides many benefits, including exposure to more investors, extended trading hours, investments by specialized ETFs and mutual funds as well as access of local institutional and private investors to global growing companies such as PhotoMedex."
Dr. Dolev Rafaeli, chief executive officer of PhotoMedex, said, “We are very happy to join the TASE with a dual listing as PhotoMedex has a strong connection to the Israeli community with offices in Hod Hasharon. We view our listing on the TASE as a logical extension of our strong presence in Israel and our connection to its vibrant medical technology sector.”
TASE links to the U.S. markets with a direct link to DTC, a subsidiary of the Depository Trust and Clearing Corporation, which facilitates the trading of dual-listed securities.
Source: PhotoMedex
E-mail: info@photomedex.com
Web Site: www.photomedex.com
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