Tel Aviv Stock Exchange Considers Acquiring Cyprus Stock Exchange
The Tel Aviv Stock Exchange is considering bidding for the Cyprus Stock Exchange in an upcoming privatization tender to expand its presence in the eurozone and pursue international growth.
The Tel Aviv Stock Exchange (TASE) is considering bidding for the Cyprus Stock Exchange (CSE) as part of an upcoming privatization tender launched by the Cypriot government. TASE, managed by Itai Ben Zeev, is exploring the acquisition to gain a foothold in the eurozone and adopt an international multi-exchange operating model, similar to Euronext or ICE.
The valuation of the Nicosia-based exchange is estimated at between 20 million and 40 million euros. While neither TASE management nor its board of directors has made a final decision, they are closely evaluating the opportunity pending the publication of the tender's official prerequisites. The privatization aims to boost the CSE's low trading volumes and profitability under private ownership.
TASE reported strong financial results, with 2025 revenues reaching 563 million shekels (approximately 160 million euros) and a net profit of 181 million shekels (roughly 51 million euros). During the first half of 2026, the local exchange maintained an annualized revenue growth rate of about 740 million shekels, representing a 31% increase compared to the same period in 2025. TASE currently boasts a market capitalization of 12.3 billion shekels (3.5 billion euros).
In September, TASE unveiled an ambitious strategic plan centered on establishing a public holding company to separate its core trading, clearing, index, data, and technology divisions. This structural reform is designed to facilitate international acquisitions, strategic partnerships, and expansion into new business verticals. The potential acquisition of the Cypriot exchange aligns seamlessly with this strategy, as TASE targets a compound annual revenue growth of 15% to 18% through 2031.
