New business rises 13% at the CISE
19 September 2016
There were 229 new listings on the Channel Islands Securities Exchange (CISE) during the first half of 2016.
This is a rise of 13% on the same period last year and took the number of listed securities on the Official List to 2,222 at the end of June 2016.
CISE Chief Executive Fiona Le Poidevin said: “I’m delighted that once again we have seen significant growth in new listings. It is very noticeable that we are seeing increased diversification in the geographical origin of our business. An increasing proportion of new work is coming from further afield and we expect that trend to continue as we raise the profile and visibility of the CISE around the world.
“We are also seeing increased diversification in the types of new business. For example, a growing number of companies with equity quoted on the LSE are choosing to list convertible debt on the CISE due to our convenient and cost effective offering.
“Overall, I’m very pleased by our activity levels during the first half of the year, which culminated in our own listing on the Exchange.”
"An increasing proportion of new work is coming from further afield and we expect that trend to continue as we raise the profile and visibility of the CISE around the world." CISE Chief Executive Fiona Le Poidevin
The period saw the Group’s parent company, The Channel Islands Securities Exchange Limited, admitted to the Official List of the Exchange operated and regulated by its wholly owned subsidiary, The Channel Islands Securities Exchange Authority Limited.
In addition, property company Raven Russia listed on the CISE, adding to its quotation on the London Stock Exchange (LSE). It is a Guernsey registered company specialising in commercial real estate in Russia and in May its ordinary shares, preference shares and warrants became dual listed. In July, the company’s new convertible redeemable preference shares were also admitted to listing on the CISE and are traded on the SETSqx platform of the LSE.
The CISE’s strong performance through the start of the year has helped it win an award. It has been named Most Outstanding Independent Stock Exchange in the Corporate Livewire Offshore Excellence Awards 2016.
Mrs Le Poidevin added: “It’s fantastic to win this award, which recognises the contribution made by all our staff and our 40 Listing and Trading Members in the ongoing success of the business."
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