CISE sees 8% rise in new listings

Tuesday, 19 Jan 2016

More than 400 securities were listed on the Channel Islands Securities Exchange (CISE) in 2015.

Investment funds, Real Estate Investment Trusts (REITs) and convertible bonds were among the 423 securities which listed on the CISE last year. That represents an 8% increase in the number of securities listed compared to the previous year, taking the total number of listings to 2,173.

During the period, the market capitalisation of the listings on the CISE increased by £61.6 billion (21%) to reach £357 billion at the end of December 2015.

Fiona Le Poidevin, CEO of the CISE, said: “It’s really pleasing to see this increase in new business during 2015. We’ve seen a wide range of new listings, including both open and closed ended funds but notable growth areas have been REITs, where already we have a number of further applications for listing in the coming weeks, and also convertible bonds, where we expect to see a further pipeline of business in 2016.”

During last year, China Cinda Finance (2014) II Limited became the first issuer with an ultimate parent company domiciled in China to be listed on the CISE.

Mrs Le Poidevin, who took the helm at the start of 2015, added: “2015 was extremely busy not just with new listings but also other developments. At the start of last year we opened our office in Jersey and our Guernsey office moved premises during the summer. We also updated our systems, rebranded, made changes to our rules for listing debt, started a review of our rules for listing investment vehicles and introduced new rules for Special Purpose Acquisition Companies (SPACs).

“The changes we made last year have put us in a strong position and I’m looking forward to continuing with this work and welcoming more new business to the CISE during 2016.”

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