First Jersey Firm Lists On NYSE

by Mike Godfrey, Tax-News.com, Washington

10 February 2012

Delphi Automotive PLC has become the first Jersey company to have its shares directly listed on the New York Shock Exchange (NYSE), having been advised on its initial public offering by Channel Islands law firm Carey Olsen.

Shares in Delphi began trading on the NYSE on November 17, 2011 and the IPO, which was entirely a secondary offering by existing shareholders, raised USD530m.

Delphi is a leading global vehicle components manufacturer and provides electrical and electronic, powertrain, safety and thermal technology solutions to the global automotive and commercial vehicle markets.

Carey Olsen Group partner, Alan Stevens, led the team that advised Delphi. He said: “Jersey has an excellent reputation for companies looking to incorporate listing vehicles and this landmark listing reinforces the island’s position as a leading jurisdiction.”

“We are delighted that Carey Olsen was selected to advise on this landmark deal. We continue to see significant listing activity across a variety of other markets, including the Hong Kong Stock Exchange, the Channel Islands Stock Exchange and Euronext. At the same time, Jersey companies continue to be a popular choice for clients looking to list on the London Stock Exchange and AIM.”

Recommended