Israeli-owned company, HUB Cyber Security, to be listed on Nasdaq
The billion-dollar Israeli cybersecurity company, HUB Cyber Security Ltd. (HUB), is taking its place on the Nasdaq dealer market and expected to be open for trading soon.
HUB, with assets of $1.28 billion, was started by veterans of elite Israel Defense Forces intelligence units, whose specialty is in advanced encryption technology. The company boasts well-known clients, such as the Pentagon, Lockheed Martin, Siemens and other high-profile entities.
As a whole, Israeli investors have been less confident in the company, believing the stated market value might be inflated, while some believe it is a fairly accurate valuation.
There is speculation that HUB stocks will be sold at $10 per share, but the opening price of the stock has not yet been determined, given the uncertainty of its actual worth and the reluctance of Israeli investors to buy in.
Whether HUB will be able to attract Japanese, American and Canadian investors remains to be seen, but it's expected to find private buyers who will yield the company a profit.
Once HUB leaves the Israeli market, a fluctuation in its stock prices is likely. As soon as the Israel Securities Authority is notified of the move, there will be 10 days of intense stock trading before it is listed on the Nasdaq exchange.
HUB Security's success on Nasdaq could set a precedent for other Israeli companies to migrate from the Israeli stock market.
The All Israel News Staff is a team of journalists in Israel.