The "Globes"-Duns 100 survey shows that debt and equity offerings on the Tel Aviv Stock Exchange (TASE) rose to NIS 38.3 billion in 2013 from NIS 27 billion in 2012. Bond offerings rose 37% to NIS 33.8 billion in 2013 from NIS 24.6 billion in 2012, and stock offerings rose 67% to NIS 4.5 billion from NIS 2.4 billion.
Debt offerings accounted for 88.3% of total offerings on the TASE in 2013, down from 90% in 2012.
The real estate and construction sector had the most offerings in 2013, amounting to NIS 19.5 billion, up from NIS 7 billion in 2012. Numerous high-tech and life sciences companies raised NIS 42 million offerings in 2013, compared with zero in the previous year.
The largest offering in 2013 was the NIS 1.2 billion bond issue by Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1). The largest expansion of a current bond was by Mizrahi Tefahot Bank (TASE:MZTF), which raised NIS 1.5 billion.
Clal Finance Underwriters Ltd. kept its top position in the Globes Dun's 100 rankings of underwriters for 2013. Leumi Partners Underwriters Ltd. rose to second place from third place in 2012, while Poalim IBI fell to third place from second place.
Published by Globes [online], Israel business news - www.globes-online.com - on March 19, 2014
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