International Flavors & Fragrances Inc. has announced that the Company has listed and begun trading on the Tel Aviv Stock Exchange (TASE) under the symbol “IFF.”
The TASE listing follows the completion of IFF’s acquisition of Frutarom, which was announced on October 4, 2018.
The TASE listing will not alter IFF’s share count, capital structure, or current stock-listings on the New York Stock Exchange (NYSE) and Euronext Paris, where it also trades under the symbol “IFF.”
“IFF is very excited and committed to continue Frutarom’s longstanding history as a major presence in Israel, both through our significant local operations and now with the listing of IFF shares on the Tel Aviv Stock Exchange,” said Andreas Fibig, IFF Chairman and CEO.
“By expanding our shareholder base in Israel, the listing will allow local investors to be part of the new IFF. We look forward to accelerating profitable growth, enhancing free cash flow and generating returns for local shareholders and all other IFF shareholders around the world.”
The IFF and Frutarom combination creates a global leader in natural taste, scent and nutrition with expected 2018 pro-forma sales of $5.3 billion.
Both IFF and Frutarom have long histories of strength in R&D, and the combined company will be leveraging these capabilities to further innovate its portfolio of products. The combined company will be headquartered in New York City and will maintain a presence in Israel.
