There were 331 new listings on TISE during 1H17, with the total value of all listed securities increasing by 1.7% to £6bn ($7.7bn, €6.5bn), to reach a total of £399bn.
Listings during the first half of 2017 included financial services business PraxisIFM Group in April. The firm features on the Channel Islands segment of TISE’s Official List.
Other listings during the period have included convertible bonds and high yield bonds, while there have also been applications for UK Real Estate Investment Trusts (Reits) which have subsequently listed.
“Being based across the three crown dependencies of Guernsey, Jersey and the Isle of Man means that we have an offering which sits outside the European Union,” said TISE chief executive Fiona Le Poidevin.
“This allows us to provide a regulatory regime which is robust but also proportionate to the needs of our issuers and this has proved particularly important, for instance, in the case of high yield bonds.
“While Brexit is creating huge uncertainty in the UK, we have certainty and stability which we believe puts us in an ideal position to help support the UK economy by offering a venue for companies to raise finance and grow their businesses.”
New office and rebranding
The first half of the year also saw TISE opening an office in the Isle of Man and launching a new brand having previously been called the Channel Islands Securities Exchange (CISE).
Since the opening of the office in the Isle of Man, IQE Securities Sponsor Services has become the first Isle of Man-based company to become a member of TISE.
The Exchange has also received recognition from the German regulator, BaFin, which means that German mutual funds can invest in TISE-listed securities.
“It has been an extremely busy first half of the year, not least with rebranding and also opening the office in the Isle of Man but, in addition, we have seen strong growth in the number of new listings. It is an exciting time to be part of this growing business,” Le Poidevin said.
