Palo Alto Networks started trading Thursday on the Tel Aviv Stock Exchange's leading equity benchmarks, the Tel Aviv-35 and Tel Aviv-125, signaling a fresh phase in the firm's expanding footprint within the Israeli market.

The US-headquartered cybersecurity company, established by Israeli entrepreneur Nir Zuk, maintains dual listings on both the American exchange and the TASE.

The firm stated that its goal is to serve as the premier partner for information security and safeguard digital lifestyles. Its secondary listing on the Tel Aviv Stock Exchange underscores confidence in Israeli talent and innovation, which lead globally. The company expressed pride in formally joining the exchange's top indices.

With thousands of skilled professionals employed in Israel, the organization highlighted its role in the local technology ecosystem. This achievement strengthens its enduring dedication to invest further in Israel, grow its operations, and enhance collaboration with the Israeli innovation community to advance the future of cybersecurity.

Calcalist noted that Palo Alto Networks' weighting in the indices will be limited to 1.25 percent until November, rising to 2.5 percent until February 2027, and reaching 5 percent thereafter, primarily to align with TASE rules on dual-listed entities.

The finance publication added that the development is projected to generate NIS 800 million in ETF demand, while leading ETFs tracking these indices will carry out roughly NIS 7 billion in trades to rebalance portfolios.

Palo Alto Networks Emerges as TASE's Highest-Valued Firm

Since its February listing on the exchange, Palo Alto Networks has held the position of TASE's most valuable company, accounting for 25 percent of the exchange's overall market capitalization.

The cybersecurity firm opted for dual listing, with shares also traded on NASDAQ, following its purchase of the Israeli cybersecurity platform CyberArk.

The listing pays tribute to CyberArk by adopting the ticker CYBR on the TASE rather than the Nasdaq symbol PANW.

The company announced its plan to pursue a secondary listing on the Tel Aviv Stock Exchange, building on CyberArk's legacy and Israel's status as a worldwide leader in cybersecurity.

Globes Israel reported that the full acquisition of CyberArk totaled $21.5 billion, with Palo Alto Networks paying $45 per share plus 0.2205 shares of PANW to CyberArk stockholders.