Post by icemandios on Oct 23, 2015 13:13:51 GMT
MannKind Announces Dual Listing on the Tel Aviv Stock Exchange
VALENCIA, Calif., Oct. 23, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) today announced that the Tel Aviv Stock Exchange (TASE) has approved the new listing of MannKind's common shares beginning on October 28, 2015 under the ticker symbol MNKD. Based on the current market capitalization, MannKind's shares are anticipated to be included in five TASE equity indexes: TASE's TA-75, TA-100, TA-BlueTech, TA-Tech-Elite and TA-Biomed.
"The new listing also offers an opportunity to expand and diversify our shareholder base by increasing our exposure and improving our accessibility to Israeli investors," said Hakan Edstrom, President and CEO of MannKind. "This listing is also an extension of the long-standing relationship between our Executive Chairman, Alfred Mann, and the Israeli biotechnology industry, including the Alfred Mann Institute at the Technion (Israel Institute of Technology)."
TASE CEO, Yossi Beinart said, "We welcome MannKind to the TASE Dual Listing, and believe that this is a recognition of the Biomed sector's special position at the Tel Aviv Stock Exchange. MannKind has long and strong relations with the Israeli Biomed Sector, via the founder and executive chairman Mr. Alfred E. Mann, one of pioneers of the Biomed sector in the U.S., who has supported developing and commercializing Israeli technologies for many years. We are proud that a company with a market value of more than a billion US dollars chose to join 50 dually-listed companies, as well as the TASE leading indices. Joining TASE entitles MannKind to significant benefits, including added exposure among Israeli investors, extension of the trading duration, investment by Exchange Traded Product vendors and easy access to institutional and retail investors."
Trading Regulations
MannKind's shares will continue to be listed on the Nasdaq Global Market, subject to the rules and regulations of the Nasdaq Global Market applicable to listed companies. Under Israel's Dual Listing Law, U.S.-listed companies may also list on the TASE without any additional regulatory requirements. Investors should note that the trading on the TASE occurs Sunday from 8:30 am to 4:30 pm Israel time and Monday through Thursday from 8:30 am to 5:30 pm Israel time, except on TASE trading holidays, and trading on the Nasdaq Global Market occurs Monday through Friday, 9:30 am to 4:00 pm Eastern Time, except on Nasdaq holidays. The TASE Clearing House is electronically linked to the Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corporation, to automate the cross-border settlement of shares listed on both the TASE and a U.S. Exchange.
VALENCIA, Calif., Oct. 23, 2015 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) today announced that the Tel Aviv Stock Exchange (TASE) has approved the new listing of MannKind's common shares beginning on October 28, 2015 under the ticker symbol MNKD. Based on the current market capitalization, MannKind's shares are anticipated to be included in five TASE equity indexes: TASE's TA-75, TA-100, TA-BlueTech, TA-Tech-Elite and TA-Biomed.
"The new listing also offers an opportunity to expand and diversify our shareholder base by increasing our exposure and improving our accessibility to Israeli investors," said Hakan Edstrom, President and CEO of MannKind. "This listing is also an extension of the long-standing relationship between our Executive Chairman, Alfred Mann, and the Israeli biotechnology industry, including the Alfred Mann Institute at the Technion (Israel Institute of Technology)."
TASE CEO, Yossi Beinart said, "We welcome MannKind to the TASE Dual Listing, and believe that this is a recognition of the Biomed sector's special position at the Tel Aviv Stock Exchange. MannKind has long and strong relations with the Israeli Biomed Sector, via the founder and executive chairman Mr. Alfred E. Mann, one of pioneers of the Biomed sector in the U.S., who has supported developing and commercializing Israeli technologies for many years. We are proud that a company with a market value of more than a billion US dollars chose to join 50 dually-listed companies, as well as the TASE leading indices. Joining TASE entitles MannKind to significant benefits, including added exposure among Israeli investors, extension of the trading duration, investment by Exchange Traded Product vendors and easy access to institutional and retail investors."
Trading Regulations
MannKind's shares will continue to be listed on the Nasdaq Global Market, subject to the rules and regulations of the Nasdaq Global Market applicable to listed companies. Under Israel's Dual Listing Law, U.S.-listed companies may also list on the TASE without any additional regulatory requirements. Investors should note that the trading on the TASE occurs Sunday from 8:30 am to 4:30 pm Israel time and Monday through Thursday from 8:30 am to 5:30 pm Israel time, except on TASE trading holidays, and trading on the Nasdaq Global Market occurs Monday through Friday, 9:30 am to 4:00 pm Eastern Time, except on Nasdaq holidays. The TASE Clearing House is electronically linked to the Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corporation, to automate the cross-border settlement of shares listed on both the TASE and a U.S. Exchange.