5th May 2017
The International Stock Exchange (TISE) has introduced Channel Islands and Isle of Man segments of its Official List.
The market segments have been launched with the aim of boosting the profile of TISE listed trading companies operating from the Channel Islands and the Isle of Man.
Fiona Le Poidevin, CEO of The International Stock Exchange Group (TISEG), said: “We rebranded the Exchange in March from the Channel Islands Securities Exchange to The International Stock Exchange to reflect the fact that, unlike many other exchanges which principally serve their domestic markets, our business is very international in nature, in part, due to longstanding relationships with the global financial services industry.
“Historically the Exchange business did at one point include a number of trading companies which operated from the Channel Islands and that is something which we are keen to rekindle while also serving businesses based in the Isle of Man following the recent launch of our presence in the island.
“The introduction of these segments means that companies from the Channel Islands and the Isle of Man can access growth capital through a cost-effective and convenient listing on our international exchange while also retaining their local identity and raising their visibility among investors, especially those seeking to invest into particular regions.”
Companies are eligible for inclusion on the Channel Islands or Isle of Man segments if they are trading companies listed under Chapter 6 of the listing rules which have operational control and their principal place of business in the respective jurisdiction(s).
The Channel Islands segment currently includes investment manager Ravenscroft, Guernsey-headquartered property developer Raven Russia and financial services business PraxisIFM Group, with the latter listing on 12 April 2017.
There are no companies yet on the Isle of Man segment. TISE launched its presence in the Isle of Man in early March and Carolyn Gelling starts today as Head of Isle of Man Office.
During the first four months of the year there have been 228 securities listed on TISE, which is 101 (80%) more than the same time in 2016. The new listings have included a range of debt instruments, in particular high yield bonds, four closed ended and seven open ended investment securities and one equity, PraxisIFM Group.
TISE’s strong start to the year in terms of numbers of new listings and continued development of its offering has helped it win an award. TISE has been named Most Dynamic Stock Exchange 2017 in this year’s Offshore Excellence Awards from trade publication Acquisition International.
Mrs Le Poidevin added: “I’m delighted that we have won this award. I’d like to thank our team for their hard work and our stakeholders for their continued support during what is a very exciting time for the organisation.
“The first few months of the year have been incredibly busy; not only have we rebranded but we have seen a record amount of new business flows, including the listing of PraxisIFM Group which has been admitted to the Official List and also features within the new Channel Islands segment.
“We believe that this demonstrates a path which other companies can follow and I have had some very interesting discussions with other financial services and non-financial services businesses in the Channel Islands who are thinking likewise. The Isle of Man has an increasingly diverse range of growing companies and the opening of our office in the island, with Carolyn at the helm, provides them with easier access to listing on an international exchange which specifically serves their needs.”