June 8, 2017 / 7:06 AM / 2 months ago

Israeli car tech firm Foresight to begin trading on Nasdaq

2 Min Read

JERUSALEM, June 8 (Reuters) -

* Israel's Foresight Autonomous Holdings, which is developing technology for self-driving cars, said on Thursday it has received approval from U.S. regulators and expects to begin trading on Nasdaq in the coming days.

* Foresight, whose parent company is security technology firm Magna BSP, applied last month with the U.S. Securities and Exchange Commission to list American depositary shares on Nasdaq. They will trade under the symbol FRSX.

* The company, already traded in Tel Aviv, says it is developing a system that creates and analyzes 3D images to prevent road collisions.

* Foresight's stock has risen 250 percent this year but opened down 2.6 percent on Thursday at 6.27 shekels ($1.77).

* Last year Foresight said that after being approached by potential U.S. investors, it was looking at a public offering on a U.S. market, where most competitors in the field are traded.

* Foresight has a 632 million shekel market capitalisation in Tel Aviv. ($1 = 3.5362 shekels) (Reporting by Ari Rabinovitch)

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