The company will be dual-listing for trade on the Tel Aviv Stock Exchange in early July, after making the requisite amendments to its charter. Under Israeli law the company must have only one kind of issued share in order to list on the TASE.
The Yokneam-based company develops billing systems for Internet applications.
"We are an Israeli company, and have received indications that Israeli investors are interested in the company," commented Mind CTI chairman, president and chief excecutive Monica Eisinger.Israeli mutuals cannot invest in the company unless its shares are listed locally, she added. The company hopes the move will increase the negotiability and hence the trading price of Mind CTI shares, she said. Eighteen other Israeli companies have dual-listed their shares on the TASE since the regulations were relaxed in mid-2001, allowing them to present statements prepared for American investors to the TASE. Fifteen dual-listed stocks had preceded the legislative amendment.