The Listing Committee of the Bermuda Stock Exchange (BSX) has announced the approval of the listing of CLSA Financial Products, Ltd.’s Asian Securities Programme, along with nine Certificates issued pursuant to the Programme under the Exchange’s Restricted Marketing provisions for Qualified Investors.
CLSA Financial Products, Ltd. (CLSAFP) is a Bermuda domiciled subsidiary of the CLSA Asia-Pacific Markets Group, the Asian investment banking arm of Credit Agricole / Calyon. CLSAFP’s Asian Securities Programme is designed to allow institutional investors access to the shares of listed companies in India, Korea, the People’s Republic of China, and Taiwan through Certificates issued under the Programme.
The Certificates listed at this time are Certificates in respect of shares in the following Indian listed companies:- Infosys Technologies Ltd., ICICI Bank Ltd., State Bank of India Ltd., Satyam Computer Services Ltd., Tata Consultancy Services Ltd., Bharti Airtel Ltd. (previously Bharti Televentures), Grasim Industries Ltd., Unitech Ltd. and Reliance Communication Ltd. (previously Reliance Communication Ventures Ltd.).
First Bermuda Group Ltd. sponsored the listing of both the Programme and the Certificates.
Greg Wojciechowski, Chief Executive Officer of the BSX stated: “We are delighted to welcome CLSA Financial Products, Ltd.’s Asian Securities Programme and the nine Certificates to the Official List of the BSX. The BSX Listing Regulations are specifically designed to facilitate the listing of derivative issues such as this Programme that are offered to institutional and sophisticated Qualified Investors.”
Mr. Wojciechowski continued: “This is the first Programme and set of Certificates that have taken advantage of the Exchange’s Listing Regulations and we are extremely pleased to be working with CLSA Financial Products, Ltd.”
Fraser Howie, Head of Structured Products of the CLSA Asia-Pacific Markets Group noted: “The listing of our Asian Securities Programme on the BSX is an important milestone in establishing CLSA Financial Products, Ltd. as a leading issuer of market access products for the Asian markets. Listing our Certificate Programme allows CLSA Financial Products, Ltd. to work with a greater number of leading institutional investors. We are happy to work with the BSX who has provided an excellent and widely recognized platform to expand our business.”
Michael Schroter, EVP of First Bermuda Group Ltd. concluded: “This Programme, with its underlying Certificates, marks a first for us BSX Listing Sponsors of such derivative issues and we are delighted to be associated with CLSA Financial Products, Ltd”.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, trusts and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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