TASE eyes major Israeli cos traded only on Wall Street

For years the Tel Aviv Inventory Trade (TASE) has been attempting to draw the large Israel tech firms listed solely on Wall Road with none main success. However yesterday the image utterly modified when Palo Alto Networks (Nasdaq: PANW), the world’s largest cybersecurity firm, introduced its intention to dual-list on the TASE, along with the completion of the acquisition of Israeli cybersecurity firm CyberArk (Nasdaq: CYBR).

Palo Alto is traded on Nasdaq with a market cap of $115 billion. Though it’s a US firm it has in depth exercise in Israel and was based by Israeli entrepreneur Nir Zuk, who stepped down as CTO final 12 months. CyberArk was solely listed on Nasdaq.

Since many of the deal to accumulate CyberArk, for about $21 billion, will probably be made in shares, Palo Alto’s market cap is predicted to develop. Regardless, it should already grow to be the corporate with the most important market cap traded on the TASE, by a great distance. Based mostly on its present market cap on Wall Road, Palo Alto will arrive in Tel Aviv with a valuation of greater than NIS 350 billion – 10 instances the typical worth of a share within the Tel Aviv 35 index.

“Strengthen Israel as a cybersecurity powerhouse”

At the moment, Teva Prescribed drugs (TASE: TEVA; NYSE: TEVA) is the biggest firm on the TASE, with a market cap of about NIS 125 billion, whereas Financial institution Leumi (TASE: LUMI) and Financial institution Hapoalim (TASE: POLI) are traded at market caps of NIS 117 billion and NIS 108 billion, respectively.

At this stage, it’s not but identified whether or not Palo Alto will probably be fast-tracked onto the indices on the TASE, and what its weight within the indices will probably be. A number of years in the past the TASE determined to restrict the burden of “international shares” in an effort to enhance the Israeli id of the indices.

Palo Alto mentioned: “With a market capitalization that’s roughly 3 instances increased than different firms on the Tel Aviv Inventory Trade, this standing will result in elevated liquidity and worldwide curiosity within the Israeli market and strengthen Israel’s place as a world cybersecurity powerhouse.”

There have been circumstances up to now through which international firms have been traded on the TASE after finishing the acquisition of a neighborhood firm. For instance, pharmaceutical firm Perrigo acquired Agis, taste and perfume firm IFF acquired Frutarom, and fleet administration firm Powerfleet merged with Pointer, all of which have since delisted from the TASE. In distinction, CyberArk (now acquired by Palo Alto) had not beforehand been traded on the TASE, so the transfer was sudden..

The large winners: The TASE and its administrators

This can be a main achievement for the TASE, headed by CEO Ittai Ben Zeev. The modifications the TASE has launched in recent times are having a optimistic impact, with a rise in buying and selling volumes usually, and in buying and selling volumes from international traders because of the lower in Israel’s threat premium. The spectacular returns that the TASE has supplied within the final two years, and the transition to a Monday-Friday buying and selling week at the beginning of 2026 have made the Israeli market extra enticing.

The TASE (TASE:TASE) personal share worth jumped 10% following the report, finishing a rise of greater than eightfold within the final three years. The TASE is at the moment buying and selling at a market cap of NIS 13 billion, with Ben-Zeev holding a 3.7% stake, value practically NIS 500 million.

A number of senior TASE executives just lately offered shares for tens of thousands and thousands of shekels, following the sharp rise within the share worth. The TASE mentioned, “The itemizing of one of many world’s main and most influential cybersecurity firms to the businesses traded in Israel is nice information for the capital market and a supply of nice pleasure for all the Israeli economic system. The selection by an organization of this magnitude, led by a groundbreaking Israeli entrepreneur, to deepen its ties to the native market at this specific time is overwhelming proof of the power, energy and stability of the Israeli capital market.”

Will it pave the way in which for different firms?

Palo Alto’s transfer could pave the way in which for extra Israeli or Israel-connected firms which can be at the moment traded solely on Wall Road to “make a transfer” and profit from dual-listing, inclusion within the Tel Aviv indices, and bigger demand because of this. At the moment, in greenback phrases, the bottom market cap of an organization within the TA 35 index is near $3 billion, so Israeli firms which can be traded on Wall Road at values of some billion {dollars} and are “underneath the radar” could obtain further publicity by means of these indices. For instance, if International-E (Nasdaq: GLBE), Lemonade (NYSE: LMND), monday.com (Nasdaq: MNDY) or Wix (Nasdaq: WIX) had been to checklist on the TASE, they might (at present worth) joint the TA 35 Index,

Corporations like Oddity Tech (Nasdaq: ODD), Taboola (Nasdaq: TBLA), Stratasys (Nasdaq: SSYS) and Kornit Digital (Nasdaq: KRNT) may very well be built-in into the TA 125 index. At the moment, among the many 5 Israeli firms with the most important market cap on Wall Road (excluding CyberArk, which was acquired) – 4 are dual-traded on the TASE (Teva, Elbit Programs, Tower and Nova). Examine Level Software program (TASE: CHKP) is the one Israeli firm among the many majors that’s traded solely on Wall Road.

Palo Alto gives a variety of cybersecurity options for networks, cloud, AI and extra and says it has over 70,000 clients. The Palo Alto-CyberArk deal is the second largest within the Israeli cybersecurity sector, with the one larger deal through which Google is buying Wiz for $32 billion, receiving EU regulatory approval this week. As of the tip of 2024, CyberArk had practically 4,000 workers, together with about 1,000 in Israel. As of final summer season, Palo Alto had over 16,000 workers, together with practically 1,500 in Israel.

CyberArk was based by chairman Udi Mokady and Alon Cohen and has places of work in Israel in Petah Tikva and Beer Sheva. In July, Palo Alto, led by Nikesh Arora, introduced the acquisition of the corporate. Arora mentioned, “The wave of AI brokers will demand that each id be secured. That’s why we determined to accumulate CyberArk, and we’re excited to start the product integration part.”

CyberArk CEO Matt Cohen mentioned that becoming a member of forces with Palo Alto creates a win-win scenario: “Our clients get entry to probably the most complete safety product providing on the planet.”

Revealed by Globes, Israel enterprise information – en.globes.co.il – on February 12, 2026.

© Copyright of Globes Writer Itonut (1983) Ltd., 2026.