Tel Aviv Stock Exchange-traded venture capital fund
is listing for trade on the London Stock Exchange. Trade in Sadot stock is expected to begin in early January 2001, after the LSE grants official approval.
The company will not be raising fresh capital in London. In April Sadot raised a net NIS 112 million in Tel Aviv, at which time it allocated stock and options to a group of mainly English investors.
In its April round, the company reportedly agreed to consider listing on the LSE. The company allocated NIS 2.36 million in its financial reports under management and general expenses to this end. The company believes that its total expenses for the dual-listing will come to NIS 4.4 million.
The financing round held in April followed a private placement the company carried out in February, in which it raised NIS 29 million. In the third quarter Sadot announced that it had repurchased NIS 1.1 million worth of stock, after its shares dropped from a peak of NIS 12 to a nadir of below NIS 5.