Tel Aviv, October 12, 2020 - The Tel-Aviv Stock Exchange (TASE: TASE) announces today the opening of a new Cannabis subsector under the Biomed sector. The Cannabis subsector will include companies, most of whose activities are in the fields of research, cultivation, propagation, sale or production and marketing of medical cannabis products. This separate classification reflects the practice in other stock exchanges worldwide, where companies that are engaged in the cultivation, growing, processing and production of medical cannabis are mostly classified under the HealthCare sector. It should be noted that companies that are exclusively engaged in the selling and marketing of cannabis products will not be included in this subsector.
The new dedicated Cannabis subsector will be launched in response to the interest expressed by capital market players, aiming to simplify the launching of mutual funds specializing in cannabis. TASE is planning to launch an index on the Cannabis subsector in the future.
As aforesaid, the new subsector will comprise 11 companies with a combined market cap of NIS 1.8 billion and a public float value of NIS 700 million.
The following companies will be included in the Cannabis subsector under the Biomed Sector:
Intelicanna, Intercure, Together, Univo, Medivie, Pharmocann, Panaxia Israel, Cannomed, CannAssure, Seach Medical and Tikun Olam Cannbit.
The Cannabis subsector will be launched on Sunday, November 1, 2020.