TEL AVIV, Israel, May 22 (UPI) -- Now is a good time for Israeli hi-tech initial public offerings on the stock market, an American analyst said over the weekend in an interview.
"The main reason that this is a good time for flotations is the fact that there is currently no balance between supply and demand," Brad Raymond, a software partner for U.S. investment bank Thomas Weisel Partners, told the Israeli business newspaper Globes.
"The number of Israeli companies making flotations is relatively small, compared with the high demand from investors," Raymond said.
Raymond was in Israel last week for a meeting with an Israeli company set to float an IPO in the coming months, according to the report.
Though he would not name the company, he said Thomas Weisel Partners deals with small and medium-sized companies, the newspaper said.
The analyst said Warren Buffett's recent purchase of Israeli technology company Iscar was a boon to investors and to Israeli hi-tech: "The deal has highlighted the strength of Israeli companies and the Israeli market," he said via the report.
"This is an excellent market in the fields in which we operate, especially technology and healthcare. There are a lot of excellent companies in Israel and lots of opportunities," Raymond continued.
