Process of Listing and Capital Raising on the TASE UP Platform

If there is no parallel capital raising process, skip stages B, C and E

Application to TASE

Preliminary feasibility testing and determining suitability for TASE UP



Preliminary examination

With underwriters/ distributors/ partners in the platform: In this stage, the raising company will hold telephone/physical meetings with a number of underwriters/ distributors/ issuance consultants for the presentation of its operations.


With a distributor/ underwriter/ partner in the platform (not mandatory – the company may choose to conduct the capital raising process on its own).



Submitting a listing document and payment of examination fees.

Description of the issuing entity, the structure of operations and the fund Declaration of the company’s qualification for TASE UP Description of the securities the company wishes to list, including tax implications Description of the profit distribution mechanisms, including the related tax liability For a bond offering – the trust deed will also be submitted For a partnership – description of tax implications, after obtaining a pre-ruling from the Income Tax Authority For a foreign entity – a lawyer’s opinion stating that there is no impediment to the listing of the securities Appointment of a nominee company

Meeting with qualified and accredited investors

בשלב זה החתם/המפיץ/יועץ ההנפקה/ שותף בפלטפורמה יפגיש בין החברה המועמדת לבין מספר גופים מוסדיים/ משקיעים כשירים. החברה המועמדת תציג למשקיעים את הפעילות שלה ולאחר מכן המשקיעים יזרימו את הביקושים לרכישת ניירות הערך


Clearing of the Issuance


Listing for Trade of the Securities

Including Payment of Listing Fees. The clearing of the issuance may be carried out through TASE Clearing House – charging investors’ accounts through the TASE member, transferring the monetary consideration to the company and depositing the securities in the securities accounts of the investors.
Commencement of Trading