There were 705 new listings on The International Stock Exchange (TISE) during the year in which it opened its office in the Isle of Man.
The number of new listings last year represents an increase of 203 (40%) on the previous year and took the total number of listed securities on the Exchange to 2,511 at the end of December.
Growth areas for new listings last year included debt products, such as high yield bonds and convertible bonds and investment vehicles, including Real Estate Investment Trusts (REITs).
Fiona Le Poidevin, CEO of The International Stock Exchange Group Limited (TISEG), said: “It is fantastic that we have built on our success of previous years by substantially increasing new business during 2017. This significant rise in the number of new listings at the Exchange reflects the growing recognition from issuers and their advisers that TISE provides the most appropriate listing venue for their securities.
“High yield was an area of notable growth during last year, with 56 companies issuing 71 high yield bonds which listed on TISE during last year. Our position as a stock exchange based in Europe geographically but outside the European Union means that we can offer proportional levels of regulation and a responsive service offering within an innovative environment.”
During 2017, financial services business PraxisIFM Group Limited became the latest trading company to be listed on TISE. It listed to widen the group’s visibility internationally, to give shareholders a market for their holdings and to provide access to capital markets and raise capital as part of its growth and expansion strategy.
It was admitted to the Channel Islands segment of TISE’s Official List which, along with an Isle of Man segment, was established when the Exchange opened an office in the Isle of Man in early 2017 and TISE has since also admitted its first member from the Isle of Man.
Carolyn Gelling, Head of the Isle of Man office of TISEG, said: “A particular focus for us during 2018 will be showcasing how both local companies and those from outside the Isle of Man, such as UK small and medium sized enterprises (SMEs), can potentially benefit from listing on TISE. We will be demonstrating how TISE is a more convenient exchange for listing SMEs and other instruments compared to larger exchanges and why being able to facilitate listings from the Isle of Man means that we can offer stability at a time of significant uncertainty in the UK given the ongoing Brexit process. We will be working closely with our network of local member firms, professional advisers and administrators in this regard.”
Other developments at TISE during last year included: receiving recognition from the German regulator, BaFin; the appointment of Mark Nicol as the new head of the regulatory arm of the Exchange, The International Stock Exchange Authority Limited (TISEA); and the launch of a new service to assist companies in obtaining, maintaining and renewing Legal Entity Identifiers (LEIs).
Mrs Le Poidevin added: “There were a number of significant developments at the Exchange during 2017, including opening the office in the Isle of Man. Our team should be very proud of these achievements and I look forward to working with all our stakeholders as we take further strides forward in 2018.”
TISE is among the sponsors of Manx State of the Nation 2018 which is being hosted by the Alliance of Isle of Man Compliance Professionals (AICP) on Friday 2nd February 2018 at the Villa Marina: https://events.bizzabo.com/MSON2018/home.
Photo - Carolyn Gelling.