The Trendlines Group has decided not to proceed with its proposed dual listing and securities offer on the Tel Aviv Stock Exchange (TASE) in Israel, the Singapore-listed investor in medical and agricultural technology startups said in a filing to SGX Thursday.
The proposed listing had been announced in April after Trendlines applied to the Israeli Securities Authority, the company said.
“Following the application, further assessment of various factors, including prevailing general economic and capital market conditions which were not favourable to the company, led the company to decide not to proceed with the proposed TASE listing,” the statement said.
Trendlines added that the proposed acquisition of one of its portfolio companies by a public corporation, as announced in late April, “remains current.”
“The portfolio company and the public corporation are still in the midst of negotiations towards the signing of a definitive agreement in due course,” Trendlines said.