TASE - Tel Aviv Stock Exchange Ltd.

04/06/2021 | Press release | Distributed by Public on 04/06/2021 01:54

Management of Technology Company, Photomyne, Opens Trading in Celebration of its IPO on TASE

Management of Technology Company, Photomyne, Opens Trading in Celebration of its IPO on TASE

Press Release

Tel Aviv, April 6, 2021 - Management of Photomyne opened trading this morning in Celebration of its IPO on TASE.

Photomyne is one of the 34 new companies listed on TASE since the beginning of 2021, of which 25 are high-tech companies and R&D partnership, this in addition to the 19 high-tech companies and partnerships that joined TASE in 2020.

Photomyne raised NIS 50 million in the IPO.

Photomyne will be included in the Technology Sector, under the software and Internet Subsector that comprises the shares of 26 companies with a total market cap of NIS 75 billion.

On May 6, 2021, the shares of the company are expected to join TASE's TA-Growth, TA Tech-Elite, TA Global-BlueTech and TA-Technology indices under the new companies' fast-track entrance.

Photomyne, established in 2014, is a software development company specializing in AI-based technology and apps for family nostalgia and events. Photomyne's apps offer users worldwide an easy solution for scanning, preserving and sharing photos of personal experiences and memories in high-quality digital format on their smartphone.

‚ÄčThe company currently has 12 apps available for download - with more than 1.5 million active users on average every month and revenue of US$ 9.3 million in 2020 (an increase of 42% over 2019). To date, more than 240 million photographs have been scanned on Photomyne's platform (hundreds of thousands of photos every day).

Nir Tzemah, CEO and Co-Founder of Photomyne, said: 'We are excited to become a public company in Israel and are grateful to the investors for their vote of confidence. Photomyne is a startup company with a unique vision - changing the way users around the globe enjoy family memories and nostalgia. The company is growing rapidly and constantly developing innovative nostalgia solutions for the public. We are confident that as a public company we will be able to touch more lives both in Israel and globally.'

Anat Geron, Listing Companies Compliance Unit Manager at TASE, said: 'TASE, as home of the Israeli economy, sees great value in strengthening the ties between Israeli high-tech companies and investors. We believe that TASE offers an optimal venue for the growth of Israeli high-tech companies. A strong economy is essential to the development of the Israeli market. As the growth engine of the Israeli economy, TASE attracts both the technology companies and the investors, whether local or foreign. We wish the managers of the company the best of success and look forward to seeing Photomyne grow in the eyes of the public as their personal channel for family memories and nostalgia.'

‚ÄčIn the picture from right to left: Anat Geron, Listing Companies Compliance Unit Manager at TASE; Natalie Rodrig Verter, CDO and Co-Founder; Omer Shoor, CTO and Co-Founder; Nir Tzemah, CEO and Co-Founder; Yair Segalovitz, CFO and Co-Founder and Amnon Neubach, TASE chairman.

Photography credit: Magma Photo, the photo is free of charge.

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