The Tel-Aviv Stock Exchange Launches The TA-Cannabis Index - The New Index Will Initially Serve As An Indicator For Changes In The Sector And As A Benchmark - Planned To Include 9 Shares With A Market Cap Of NIS 1.7 Billion Date
The Tel-Aviv Stock Exchange (TASE:
TASE) announced today the launch of a new index that will comprise shares of companies included the Cannabis Subsector, under the Biomed Sector.
The Israeli medical cannabis industry has evolved in recent years and, while not yet mature, has gained rapport in the capital market. Accordingly, on November 1, 2020, TASE launched a new dedicated Cannabis Subsector. The Cannabis Subsector includes companies that are primarily engaged in the fields of research, cultivation, sale or production and marketing of medical cannabis products.
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TEL AVIV, Israel, Dec. 28, 2020 /PRNewswire/ The Tel-Aviv Stock Exchange (TASE: TASE) announced today the launch of a new index that will comprise shares of companies included the Cannabis Subsector, under the Biomed Sector.
The Israeli medical cannabis industry has evolved in recent years and, while not yet mature, has gained rapport in the capital market. Accordingly, on November 1, 2020, TASE launched a new dedicated Cannabis Subsector. The Cannabis Subsector includes companies that are primarily engaged in the fields of research, cultivation, sale or production and marketing of medical cannabis products.
The majority of shares in the Cannabis Subsector are included in the TA-Growth Index and only one is included in the TA-SME60 Index. As the market cap of the 9 cannabis companies included in the Tamar Equity Indices Universe is relatively low, at present the index does not qualify as a base asset for ETFs and tracking financial product