The Channel Islands Stock Exchange (CISX) has announced the approval of the 2,000th security to be admitted to the Official List.
The 2,000th listing on the exchange occurred on April 16, 2007, when Isle of Man collective investment fund Lansdown Atlantic Life Settlement Fund was admitted to the Official List.
Tony Link, Managing Director of Carey Commercial Limited, which sponsored the listing, observed: “We are proud to have sponsored the Listing and to be associated with such an important event in the ongoing growth and development of the CISX. We look forward to working with both the team at the CISX and international issuers to further expand the number and type of securities listed on the CISX.”
Lansdown manager, David Traill, added: “We are delighted and proud to be the 2,000th listing on the CISX – this gives us a broader appeal in the wider international arena and shows the dedication of all those involved in such a successful operation.
Listings on the CISX have seen dramatic growth in recent months. Last month, the law firm Ogier announced that it had sponsored its 200th listing and had sponsored 85 listings since November 2006.
“Demand from our clients to list on the CISX has been exceptionally strong as they appreciate the benefits the Exchange can offer," Chris Byrne, Head of Ogier Group’s Structured Finance Practice, commented at the time.
Ogier Corporate Finance Limited was a founder member of the CISX when the Exchange launched in 1998. Today the Group offers listings services on the CISX through its Jersey and Guernsey offices.
The CISX has also experienced significant interest from tax advisers and fund management companies in using the exchange for the listing of UK REITs, which were introduced in January 2007.
The CISX has a niche market in the listing of property funds with well over 100 property funds admitted to its Official List and is thus well placed to provide the level of service and expertise required to attract the listing of UK REITS, which must be listed on an authorised exchange.
According to CISX Chief Executive, Tammy Menteshvili, last year the exchange was "inundated" with enquiries from tax advisers and fund management groups regarding REIT listings in the run-up to the legislation going into force.
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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