August 19, 2013 7:00am EDT
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—Shares already listed on NYSE and will also list on the TASE
beginning August 21— under Ticker Symbol OPK
MIAMI & TEL AVIV, Israel--(BUSINESS WIRE)--
OPKO Health, Inc. (NYSE: OPK), a multi-national biopharmaceutical and
diagnostics company, today announced that the Tel-Aviv Stock Exchange
(“TASE”) has approved the new listing of OPKO’s common stock on the TASE
beginning on August 21, 2013, under the ticker symbol OPK. OPKO’s common
stock will thereafter be listed on both the NYSE in the United States
and the TASE in Israel. Based on OPKO’s market capitalization, OPKO
expects its shares to be included in the TA-25 Index (TA-25), the TASE
flagship index which tracks the share prices of the 25 companies with
the highest market capitalization on the exchange.
“We are very pleased to welcome OPKO, a biopharmaceutical and diagnostic
company which is active around the world, to the Tel-Aviv Stock
Exchange, and its entry into the leading indexes of TASE,” said Ester
Levanon, CEO of the Tel-Aviv Stock Exchange. “Over the past few years
TASE has become a center for biomed companies. The registration of OPKO
on TASE demonstrates a vote of confidence in the Israeli stock market
and the leading position of the biomed sector on TASE. By virtue of its
dual listing, OPKO will enjoy significant advantages, including exposure
to Israeli investors, expanded trading hours, investment by way of
index-based instruments, exchange traded notes and funds and specialized
funds, and easy access to institutional and private investors and
emerging global companies.”
“We are pleased to start trading on the TASE with this dual listing and
to join Israel’s top companies as part of the TA-25 index,” commented
Dr. Phillip Frost, OPKO’s Chairman and Chief Executive Officer. “We
believe that this step will expand our exposure to the Israeli
investment community and will increase the interest in OPKO among
Israel’s large and sophisticated institutional investors. We already
have a significant presence in Israel through our ownership of FineTech
Pharmaceuticals Ltd, based in Nesher, Israel, which is engaged in the
development and production of high-value, high-potency specialty active
pharmaceutical ingredients, and a controlling interest in Sci-Vac Ltd,
which manufactures and sells a third-generation hepatitis B vaccine
produced in a state of the art biologics manufacturing facility in
Rehovot, Israel. We expect that Israel will become OPKO’s biotechnology
R&D global center upon completion of our pending acquisition of PROLOR
Biotech, Inc., a biopharmaceutical company based in Nes Ziona, Israel
that is applying unique technologies to develop and commercialize
longer-acting proprietary versions of already approved therapeutic
proteins.”
OPKO will remain subject to the rules and regulations of the NYSE and of
the U.S. Securities and Exchange Commission. Trading on the TASE occurs
on Sunday from 9:45 AM to 4:30 PM Israel time and on Monday through
Thursday from 9:45 AM to 5:30 PM Israel time, except on TASE trading
holidays. Through the amendment to Israel’s Securities Law 5728-1968,
that took effect in October 2000, U.S.-listed companies may dual-list on
the TASE without any additional regulatory requirements. TASE links to
the U.S. markets via a direct link to DTC, a subsidiary of the
Depository Trust & Clearing Corporation, which facilitates the trading
of dually-listed securities.
ABOUT OPKO HEALTH, INC.
OPKO is a multinational biopharmaceutical and diagnostics company that
seeks to establish industry leading positions in large, rapidly growing
markets by leveraging its discovery, development and commercialization
expertise and novel and proprietary technologies. For more information,
visit http://www.opko.com .
SAFE HARBOR STATEMENT
This press release includes forward looking statements, within the
meaning of the Private Securities Litigation Reform Act of 1995, which
are subject to risk and uncertainties that could cause actual results to
differ materially from those anticipated. Such statements may relate to
OPKO’s plans, objectives and expected financial and operating results,
including statements regarding our ability to expand our exposure to the
Israeli investment community and increase interest in OPKO among
Israel’s large and sophisticated institutional investors. The words
"may," "could," "would," “will,” "believe," "anticipate," "estimate,"
"expect," "intend," "plan," and similar expressions or variations
thereof are intended to identify forward-looking statements. Investors
are cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and uncertainties,
many of which are beyond OPKO’s ability to control. The risks and
uncertainties that may affect forward looking statements include, but
are not limited to: currency fluctuations, global economic and political
conditions, marketing demand for OPKO’s products and services, long
sales cycles, new product development, assimilating future acquisitions,
maintaining relationships with customers and partners, and increased
competition, as well as the risk we may not complete the acquisition of
PROLOR Biotech, Inc. For more details about the risks and uncertainties
related to OPKO’s business, refer to OPKO’s filings with the Securities
and Exchange Commission. OPKO undertakes no obligation to publicly
update or revise any forward looking statements, whether as a result of
new information, future events or otherwise.
OPKO Heath, Inc.
Steve D. Rubin
Executive Vice President –
Administration
or
Juan F. Rodrigez
Chief Financial Officer
Source: OPKO Health, Inc.
Released August 19, 2013
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