The Tel Aviv Inventory Change (TASE) stories that US cybersecurity large Palo Alto Networks (Nasdaq: PANW) will start buying and selling on the TASE subsequent Monday, February 23. This follows the completion of the acquisition of Israeli cybersecurity firm CyberArk (Nasdaq: CYBR) and Palo Alto’s determination to dual-list on the TASE. The idea in the marketplace was that the method of itemizing on the TASE would take a number of months however in follow it’s taking place a lot sooner.
Palo Alto Networks is at present traded on Wall Avenue at $152.35 per share, giving a market cap of $123 billion. The greenback has strengthened in the present day in opposition to the shekel to NIS 3.14/$, which signifies that if Palo Alto Networks started buying and selling in the present day it might have a market cap of NIS 387 billion.
That is triple the market cap of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA), which is at present essentially the most beneficial firm traded on the TASE. Palo Alto’s market cap equals the mixed whole of the following 4 most respected corporations on the TASE – Financial institution Leumi (TASE: LUMI), Financial institution Hapoalim (TASE: POLI), Elbit Techniques Ltd. (Nasdaq: ESLT; TASE:ESLT), and Mizrahi Tefahot Financial institution
If and when will Palo Alto enter the indices?
The large query now’s if and when Palo Alto will be part of the foremost TASE indices – the Tel Aviv 35 and Tel Aviv 125. The market assumption is that the corporate might be quick tracked onto these indices. Within the meantime, the TASE itself doesn’t but know the reply to this query.
Formally, Palo Alto missed the deadline for the definitive registration to enter the indices, which was February 14, however it’s actually attainable that the TASE might be versatile and permit the cybersecurity firm to enter the indices as early because the semi-annual replace in Could. The TASE may also need to determine whether or not Palo Alto is a “international firm” or one which has important exercise in Israel. Following the acquisition of CyberArk, this risk is actually cheap.
One other risk is that Palo Alto will enter the indices on a quick monitor as a part of the replace of the parameters (weight) in August.
Who would be the corporations pushed out in consequence?
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An organization that’s already within the Tel Aviv 35 Index should be one of many 39 largest on the TASE within the “ten decisive days” (a couple of month earlier than the replace itself) so as to not be excluded from it. However, an organization that wishes to enter should be in a minimum of thirtieth place (or have the very best market cap amongst these outdoors, assuming one leaves). Since Palo Alto will in fact be within the prime 30, if it joins the indices already within the Could replace, the outcome might be that the corporate with the smallest market cap within the Tel Aviv 35 index might be relegated.
As of in the present day this might be YH Dimri Building and Growth (TASE: DIMRI), which is the forty fifth greatest firm on the TASE. However Mivne Actual Property (TASE: MVNE) and Fattal Holdings (1998) (TASE: FTAL), ranked 42 and 43, are additionally candidates to drop out of the Tel Aviv 35 Index. A number of corporations may very well be relegated as Mega Or (TASE: MGOR), ranked 28, can also be a candidate for promotion. The inventory of the Tel Aviv Inventory Change (TASE: TASE) itself, ranked 31, can also be a candidate for promotion to the Tel Aviv 35 Index. However a lot can change within the weeks till the composition of the indices is set.
Printed by Globes, Israel enterprise information – en.globes.co.il – on February 19, 2026.
© Copyright of Globes Writer Itonut (1983) Ltd., 2026.
