Crystal Systems Solutions (Nasdaq:CRYS) of the
yesterday became one of the few companies to take advantage of the recently relaxed regulations governing dual-listing in Tel Aviv and Wall Street.
Crystal was preceded by
(Nasdaq:MGIC), which also belongs to the Formula group.
Crystal Chairman Gad Goldstein said the company hopes that the dual-listing will increase the stock's negotiability. On average, 35,000 Crystal shares are traded each day on Wall Street. Goldstein added that the company will make an effort to complete the dual-listing process as soon as possible, and start trading in Tel Aviv in January 2001.
Crystal is a software house that provides proprietary software technologies and services, e-business solutions, and support services. In December 1999, Crystal acquired the control in
, which converts software built for Microsoft's Windows and WT environments to rival environments, especially Unix and Linux.
Like other Israeli software companies traded on Wall Street, such as
, which two weeks ago was delisted after Formula completed the takeover of the company, Crystal has reported a significant rise in revenues in recent quarters.