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Stock Markets February 12, 2026

Palo Alto Networks to List Shares on Tel Aviv Exchange After Closing CyberArk Deal

Following completion of its $25 billion acquisition of CyberArk, the Nasdaq-listed cybersecurity firm will dual list on the Tel Aviv Stock Exchange under the CYBR symbol

By Avery Klein CYBR
Palo Alto Networks to List Shares on Tel Aviv Exchange After Closing CyberArk Deal
CYBR

Palo Alto Networks said it will add a secondary listing on the Tel Aviv Stock Exchange after completing its $25 billion acquisition of Israeli cybersecurity company CyberArk Software. The Nasdaq-listed firm, valued at $115 billion, will become the largest company by market capitalization on the TASE once the listing is active. No specific effective date has been announced.

Key Points

  • Palo Alto Networks completed a $25 billion acquisition of CyberArk Software and plans a dual listing on the Tel Aviv Stock Exchange.
  • The Nasdaq-listed company, valued at $115 billion, will become the largest company by market capitalization on the TASE once the listing is effective.
  • The stock will trade on the Tel Aviv exchange under the ticker symbol "CYBR"; no effective date for the listing has been disclosed.

Palo Alto Networks announced that it will pursue a secondary listing on the Tel Aviv Stock Exchange (TASE), a move the company said follows the completion of its $25 billion acquisition of Israeli cybersecurity firm CyberArk Software.

The company, which trades on Nasdaq and is currently valued at $115 billion, said the dual listing will make it the largest firm by market capitalization on the TASE once the new listing takes effect. Palo Alto did not specify when trading on the Tel Aviv exchange will begin.

Palo Alto indicated it intends to use the ticker symbol "CYBR" on the Tel Aviv floor.

"Listing on the TASE is a powerful tribute to CyberArk’s Israeli roots and our commitment to the local tech ecosystem," Palo Alto said in a statement. "It allows local institutional and retail investors easier access to Palo Alto’s shares and further integrates us into the fabric of Israel’s economy."

The company completed the acquisition of CyberArk Software on Wednesday. In announcing the deal's closing and the planned dual listing, Palo Alto emphasized that while CyberArk is now part of its corporate group, "its identity remains a cornerstone of our global strategy."

The declaration of a Tel Aviv listing follows the closure of the $25 billion transaction. Beyond indicating the planned ticker and the broader strategic intent to deepen ties with Israel’s technology sector, the company provided no additional operational details or a timetable for when the TASE listing will commence.

Market participants and local investors will be able to access Palo Alto shares through the Tel Aviv listing once it is implemented, the company said. Until an effective date is announced, Palo Alto will remain listed on Nasdaq and continue to operate under its existing public structure.

Summary of developments

  • Palo Alto Networks will pursue a dual listing on the Tel Aviv Stock Exchange following the closing of its $25 billion acquisition of CyberArk Software.
  • The Nasdaq-listed company, valued at $115 billion, will be the largest firm by market capitalization on the TASE once the listing takes effect.
  • The firm plans to trade on the Tel Aviv exchange under the symbol "CYBR", but has not provided a date for when trading will begin.

Risks

  • Timing uncertainty - The company has not provided a specific date for when the TASE listing will take effect, leaving timing of market access unclear.
  • Integration identity risk - Although CyberArk is now part of Palo Alto Networks, the company noted CyberArk’s identity remains a cornerstone of strategy, indicating ongoing integration considerations that could affect operations.
  • Market access variability - Until the dual listing is active, local institutional and retail investors in Israel may not immediately gain the intended easier access to Palo Alto shares.

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