More new listings and members at TISE

Thursday 26 July 2018

There has been further growth in new listings on The International Stock Exchange (TISE), with 338 newly listed securities during the first half of 2018.

This takes the total number of listed securities on the Exchange up to 2,642 at the end of June 2018. During the same period, four new members have been approved to sponsor listings on TISE, taking the total number of listing and trading members up to 44.

Fiona Le Poidevin, CEO of The International Stock Exchange Group (TISEG), said: “2017 was an exceptional twelve months where we built on the success of previous years. I am delighted that we have continued in the same vein during the first half of 2018 such that new listings have surpassed the number of new listings during the same period last year.”

Debt remains the largest proportion of new listings during the first half of the year. This has included a £3.5 billion issuance by sports betting and gaming giant GVC Holdings (UK) Ltd, which was the first TISE listing to be sponsored by an Isle of Man based member firm.

Mrs Le Poidevin said: “High yield continues as an area of notable growth and we have seen 103 companies issuing 156 high yield bonds which have listed on TISE during the last two years. Our position as a stock exchange based in Europe geographically but outside the European Union means that we can offer proportionate levels of regulation and a responsive service offering within an innovative environment.”

During the first half of the year, 14 classes of open-ended investment vehicles and seven classes of closed-ended investment vehicles listed on TISE. The latter included two HMRC approved UK Real Estate Investment Trusts (REITs) and a third listed at the start of July.

Mrs Le Poidevin added: “TISE continues to increase its recognition among issuers and their advisers as a listing venue of choice for UK REITs. Indeed, a recent report from Grant Thornton in the UK confirmed our view that TISE is home to more than quarter of all UK REITs and as such, we are the alternative listing venue to the London Stock Exchange’s Main Market for this product.”

TISE’s new members during the first half of the year have included fund administration business FIM Capital as the second Isle of Man-based member and Solidum Re (Guernsey) ICC Limited as the first Insurance Linked Securities (ILS) specialist to become a member firm.

Mrs Le Poidevin added: “I’m really pleased to see these new members coming on board, especially because they are all different in nature and as such, adding diversity whether by geographical location or the types of products they are looking to list. Businesses are wanting to add TISE membership to their offering because they are seeing increased demand from clients for TISE listings and the potential variety of ways in which a TISE listing can benefit their client base.”

During the first half of the year, TISE also received a bronze award in the Marketing / Business Development / Public Relations Team of the Year category at the Citywealth Brand Management and Reputation Awards 2018.