Jerusalem, 6 August, 2025 (TPS-IL) — The Tel Aviv Stock Exchange posted strong results for the first half of 2025, buoyed by record trading volumes, rising investor participation, and a sharp increase in equity market capitalization, despite 22 months of war.
TASE reported revenue of NIS 267.1 million ($77.4 million) for the first half of the year, marking a 25% increase from the same period in 2024. Net profit reached NIS 79.4 million ($23 million), up 59% year over year, while adjusted EBITDA rose 41% to NIS 133.5 million ($38.6 million).
“The Q2 2025 financial statements point to the resilience of TASE, which rests on the strong foundations of the Israeli economy, even during this challenging period,” said TASE CEO Ittai Ben Zeev. “During H1 2025, Israel continued to demonstrate social and economic resilience, through the ongoing October 7 War and became even stronger during the recent 12-day war with Iran.”
The exchange’s performance was driven by robust trading activity and growing interest from both local and international investors. Average daily trading volumes hit an all-time high of NIS 3 billion ($870 million) in the first half, a 40% increase compared to the previous six months. TASE attributed the surge to increased retail investor participation and a doubling of foreign investor inflows, which reached NIS 9.5 billion ($2.75 billion) during the period.
Retail investors injected NIS 8.4 billion ($2.43 billion) into TASE’s equity market in the first half of the year, more than double the figure from the second half of 2024. “The Israeli retail segment is showing increased interest in the local capital market, although its overall participation remains relatively low compared to most other leading capital markets,” Ben Zeev noted.
Equity indices also recorded substantial gains: the TA-35, TA-90, TA-125, and TA-SME60 rose between 16.9% and 25.5% in H1 2025, outpacing their U.S. counterparts. At the end of June, TASE’s equity market capitalization stood at NIS 1.7 trillion ($490 billion), 21% higher than at the end of 2024.
The exchange also saw a rebound in initial public offerings. Nine companies completed IPOs in the first half of the year—nearly twice as many as in all of 2024 — raising NIS 1.4 billion ($410 million). In total, equity offerings raised NIS 5.6 billion ($1.6 billion) in H1, up 28% from the second half of last year. Corporate bond issuance also ticked upward, reaching NIS 87.8 billion ($25.4 billion).
Looking ahead, TASE is preparing to transition to a Monday-to-Friday trading week starting in January. The move, approved by Israel’s Finance Minister this week, is intended to better align TASE’s operations with global markets and attract more international investment.
“We remain committed to developing and upgrading the local capital market, and pursuing the strategic objectives outlined in TASE’s strategic plan,” said Ben Zeev. Among other initiatives, TASE launched a beta version of an AI-powered tool to translate company reports into English, beginning with firms in the TA-125 Index.
TASE is also exploring a potential partnership or sale involving its index business, currently managing NIS 121 billion ($35 billion) in assets. U.S. investment bank Jefferies has been retained to advise on possible transactions.
Related Topics
