Isle of Man-based IQE Securities Sponsor Services Limited has been approved as a listing member of The International Stock Exchange (TISE).
IQE Securities Sponsor Services Limited has been approved as a Category 1, Category 2 and Category 3 sponsor, enabling the firm to arrange and sponsor the listing of debt securities, investment vehicles and trading companies on TISE.
IQE Securities Sponsor Services Limited is a wholly owned subsidiary of IQE Limited, the international fiduciary services provider. It is the first Isle of Man company to become a member of TISE.
Fiona Le Poidevin, chief executive of The International Stock Exchange Group (TISEG), said: “We launched our presence in the island in March and so it is a great achievement for us to have the first member come on board so soon afterwards. This is another major milestone in the development of our business as it means that now listings can be facilitated directly from the Isle of Man, whether debt, investment vehicles or trading companies.”
Carolyn Gelling, head of the Isle of Man Office of TISEG, added that there has been “significant interest” from a number of different companies in the island and called the listing a “great first step” towards us creating a network of members and associated advisers and administrators in the Isle of Man who will facilitate business with TISE.
During the first five months of the year there have been 270 securities listed on TISE, which is 90 (50%) more than the same time in 2016, it said. The new listings have included a range of debt instruments, in particular high yield bonds, four closed ended and eight open ended investment securities and one equity, PraxisIFM Group.
Anne Couper Woods, director of IQE Securities Sponsor Services Limited, said: “It made perfect sense to expand our services in this way as it builds on our significant experience working on admissions to the London Stock Exchange’s AIM and the Main Market. IQE sees listing on TISE as a great opportunity for both local and international companies seeking to raise funds and some liquidity, seeking to facilitate retirement, succession plans or an exit route.
“Opening a branch office of TISE here shows great confidence in the island and fits well with the government’s strategy of diversity by building on existing strengths. We look forward to being part of the island’s continued growth and prosperity and to supporting local and international companies on their own growth trajectories.”