An Israeli mining company has made history by becoming the first to list on the London Stock Exchange.
Shefa Yamim focuses on the exploration for precious stones in Northern Israel.
Trading in ordinary shares commenced Wednesday.
Shefa is the 29th Israeli company to make the official list and 100th to list in London this year.
Israeli Ambassador Mark Regev joined company representatives, the LSE and investors at a launch ceremony, which concluded with the lighting of the menorah for the first time at the LSE.
“Shefa Yamim’s listing serves as further proof that the robust economic ties between Israel and the United Kingdom are growing even stronger,” said Ambassador Regev.
“I believe we will see more Israeli companies join the LSE in the year ahead.”
Justine Zwerling, Head of Primary Markets – Israel, London Stock Exchange Group assisted Shefa with the listing.
“The company’s choice of London for its IPO underlines the City’s status as a market open to the world and highlights the strong economic, financial and cultural ties between the UK and Israel,” she commented.
“With 29 Israeli firms now listed in London, we are committed to supporting Israeli companies raise international capital.”
Shefa raised gross proceeds of £4.15 million and will use net proceeds to advance exploration in the Kishon Mid Reach project.
Avi Taub, Shefa chief executive officer said he was “delighted” with the listing.
“We believe that Shefa Yamim’s diverse assemblage of gemstones makes it unique,” he noted. “The monies raised will allow the company to accelerate exploration on its priority target, the Kishon-Mid Reach, with the view of commencing production by 2020.
“We look forward to updating the market on our progress.”
Mr Taub thanked existing shareholders for their support and welcomed new investors.