Israeli Companies Listed on the ASX

Israeli companies quoted on the ASX do not constitute a uniform corporate category. The listings have included technology businesses in fields such as digital hardware, medical monitoring, agricultural technology, water treatment, fintech, software, and unmanned systems. Published totals are dated snapshots and vary according to whether a source counts completed offerings, companies listed at a particular time, or companies that remained actively traded.

As of November 2022, the World Jewish Congress reported that 19 Israeli companies were listed on the exchange and that Israel ranked third among sources of foreign listings.[1] A 2016 report explained that the companies in its count were Australian-incorporated but were regarded as Israeli because their management, founders, and core operations were based in Israel.[2] Later reports did not always state their classification criteria.

The first Israeli company floated on the ASX was Audio Pixels, which raised A$32.5 million in 2011 at an after-money valuation of A$158 million.[3] Its listing preceded a broader wave of Israeli technology companies seeking access to Australian public capital.

A 2016 report counted six Israeli or Israel-related companies trading on the exchange, five of which had listed since January 2015.[2] By April 2017, Globes counted 11 Israeli companies, while an October 2017 report put the total at 16 and ranked Israel fifth among countries supplying foreign shares to the ASX.[4][3] A May 2018 report counted 17 companies, including five that had listed during 2017.[5]

Security Matters became the 18th Israeli company on the exchange in October 2018.[6] More than 20 Israeli companies were reported as listed by October 2019, while a June 2020 analysis counted 20.[7][8] These figures should be read as historical snapshots rather than as a continuous or definitive roster.

Israeli companies used two principal routes to enter the ASX. Many early entrants employed a backdoor or reverse-merger listing, in which an Israeli business merged into an existing Australian exchange shell and effectively assumed its listing. A 2016 report said all but one of the companies in the cohort it examined had used this route, while an April 2017 report said most Israeli entrants up to that point had listed through reverse mergers rather than regular IPOs.[2][3]

Conventional IPOs subsequently became more common. By December 2018, most Israeli companies registering for Australian trading during the preceding 18 months had used IPOs rather than shell mergers.[9] AppsVillage, HeraMED, ParaZero, Roots Sustainable Agricultural Technologies, Security Matters, Shekel Brainweight, Splitit, and WAY2VAT were among the companies associated with this later IPO phase.

In 2020, the ASX began recognizing the Tel Aviv Stock Exchange as an "acceptable home exchange" for dual-listing purposes. This reduced the compliance burden by allowing the ASX to recognize rules already followed by a TASE-listed company rather than requiring compliance with two entirely separate rulebooks.[10] ASX listings executive Max Cunningham summarized the change by saying: "Dual listings could already take place. But this makes it easier."[10]

The cohort spans a wide range of technology sectors. Audio Pixels Holdings Ltd., a developer of high-performance digital loudspeakers, became the first Israeli company floated in Australia in 2011.[3][7] Weebit Nano Ltd., which developed non-volatile memory technology, joined the exchange through a shell merger in 2016 and was later described as one of the more notable successes among the Israeli listings.[11]

In water and environmental technology, Emefcy Limited listed in December 2015 and developed wastewater-treatment solutions.[2][3] Fluence (ASX: FLC) was also identified as a water-treatment provider among the Israeli ASX companies.[6] Roots Sustainable Agricultural Technologies developed low-energy systems to heat or cool crop roots and irrigation technology using condensation; it IPOed at A$0.20 per share in late 2017.[7]

The medical and health-technology sector was also represented. G Medical Innovations (ASX: GMV), a mobile e-health provider, listed on May 8, 2017 and raised AUD 12 million.[5] Netanya-based HeraMED completed an ASX IPO in December 2018, raising A$6 million at an IPO valuation of A$17.5 million. It developed a home fetal-heartbeat monitor connected to a smartphone and cloud service for sharing data with physicians.[9] Shekel Brainweight (ASX: SBW), a developer and manufacturer of weighing systems, raised A$10.2 million in an Australian IPO reported during the same period.[9]

Dragontail Systems (ASX: DTS), founded by Israeli Pizza Hut franchisee Udi Shamai, developed software to optimize kitchen orders and delivery management for fast-food restaurants. It floated in Australia in late 2016 at A$0.20 per share and was subsequently acquired by Yum! Brands.[11][12] In fintech, Splitit, a payment-solutions company, IPOed in January 2019. It became the first Israeli company included in an Australian stock index when it joined the S&P/ASX All Technology Index on September 21, 2020; its market value on August 31, 2020 was nearly AUD 727 million.[10]

Elsight Ltd. (ASX: ELS), based in Or Yehuda and founded in 2009, developed communications technology for unmanned platforms including drones and robots. It listed in 2017 at a valuation of A$20 million.[13] Security Matters (ASX: SMX), founded by Haggai Alon, raised A$6 million and had a market capitalization of A$20 million after its first trading day, becoming the 18th Israeli company on the exchange in October 2018.[6]

WAY2VAT (ASX: W2V), a Herzliya-based fintech firm that developed an automated, AI-based VAT-return platform, completed an ASX IPO in September 2021, raising A$7 million at a valuation of A$30.7 million.[14] AppsVillage, which developed a cloud SaaS platform enabling small and medium-sized businesses to build and manage mobile apps, raised A$5 million in its 2019 ASX IPO at a valuation of A$13.3 million.[15]

ParaZero Drone Safety Solutions developed parachute-based technology intended to detect drone malfunctions and land drones safely; it IPOed at A$0.20 per share in 2018.[7] Dots Nano, which developed nanomaterials for industrial applications, joined the exchange through a shell merger in 2016 and was later described as another notable success.[11]

A May 2018 report, citing ASX data, gave the Israeli companies an average return of 74% since listing and a combined market capitalization of AUD 1.4 billion.[5] Individual results varied widely: G Medical's shares were reported as up 43% and Elsight's as up 165%, while Mobilicom was down 65% and e-sense Lab was down 15%.[5]

The picture was more mixed by 2020. A June analysis counted 20 Israeli ASX companies with a combined market capitalization of US$714 million at the end of May. Only seven showed positive returns, about half traded at roughly half their IPO valuations, and only two had market capitalizations above US$100 million.[8]

Among the standout performers, Splitit's share price rose 830% between its January 2019 IPO and the end of August 2020.[10] Audio Pixels recorded a gain of 483% through the same date, while Roots was down 76%, G Medical was down 80%, and AppsVillage was down 45%.[10]

Elsight later emerged as an exceptional success. In January 2026, Globes reported that it had a market capitalization of A$989 million and that its share price had risen by more than 1,000% during the preceding year. The same profile characterized most companies from the broader 2016–2019 Israeli listing wave as stagnant, sold, or delisted.[13]

A 2023 review illustrated the weaker side of the cohort. Gefen Technologies, which had IPOed in July 2021 at a valuation of A$128 million, was reported as trading below A$1 million and working to delist less than two years later. WAY2VAT and NGS had each lost more than 90% of their value since their IPOs, while Roots had lost most of its value since its 2017 offering.[11]

No cited source provides a complete, current, named roster of all Israeli companies quoted on the ASX. The World Jewish Congress supplies an aggregate count without naming the companies, while the later reviews discuss selected examples rather than a comprehensive current list.[1][11]

The published totals also reflect different dates and measures. Reports counted six Israeli or Israel-related companies in 2016 and 11 Israeli companies in April 2017.[2][3] Other reports counted 16 in October 2017 and 17 in May 2018.[4][5] The total reached 18 after Security Matters listed in October 2018 and was reported as more than 20 in October 2019.[6][7] Calcalist counted 20 in June 2020, while a May 2023 Globes report said approximately 20 Israeli companies had completed ASX offerings.[8][11]

These formulations are not interchangeable: some refer to companies trading at the time, while others refer to companies that had ever completed a listing or offering. Companies may also have been acquired, delisted, or ceased trading between publication dates.

Classification criteria have varied as well. A 2016 report said the companies in its cohort were Australian-incorporated and were treated as Israeli because their management, founders, and operations were based in Israel.[2] Not all later reports explicitly state how they determine Israeli identity. The dated counts therefore cannot be reconciled into a single authoritative current figure or roster.