ENGINEERING
Mellanox Delists Shares from Tel Aviv Stock Exchange
Mellanox Technologies is voluntarily delisting the company’s ordinary shares from trading on the Tel Aviv Stock Exchange (TASE). Mellanox is delisting its shares from the TASE in order to be subject to one set of listing regulations instead of two, to allow greater management focus on the company’s business, and to reduce cost of operations. As such, Mellanox has requested that the TASE immediately initiate the process to delist the company’s shares.
Under applicable Israeli law, the delisting of Mellanox’s ordinary shares from trading on the TASE is expected to become effective three months from the date of request. During this time its ordinary shares will continue to be traded on the TASE. Mellanox will announce the exact date of the delisting in the coming months.
“While our listing on the TASE has provided a venue for certain Mellanox investors to trade, we believe it’s in the company’s best interest to concentrate our trading on NASDAQ,” said Eyal Waldman, president, CEO, and chairman of the board at Mellanox Technologies. “We wish to thank all of those investors who traded Mellanox shares on the TASE.”
Mellanox shares will continue to be listed on NASDAQ, and all of its ordinary shares now traded on the TASE are expected to transfer to NASDAQ. Mellanox will continue to file public reports in accordance with the rules and regulations of the NASDAQ and the U.S. Securities and Exchange Commission.
