Guernsey Press

TISE revises its listing rules

THE International Stock Exchange has revised its listing rules for trading companies – in particular to appeal to small and medium-sized enterprises.

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(Picture by Adrian Miller, 22771850)

With a long-term strategy of attracting more listings from UK-based growth companies and the Crown Dependencies, the exchange believes it can offer a more cost effective option for SMEs to access capital markets.

‘Owners of SMEs require access to affordable capital in order to scale up their businesses but this is proving increasingly difficult,’ said Fiona Le Poidevin, CEO of The International Stock Exchange Group, pictured.

‘That is the case across the funding landscape and in terms of the capital markets, the significant expense and overly onerous requirements to gain admission to a traditional stock market are acting as a barrier to entry for many growth companies.’

She added: ‘We believe that TISE can offer a much more cost-effective option for SMEs to access the capital markets and now we have updated our listing rules to ensure that they are sufficiently proportionate to provide an appropriate and attractive environment for these companies.’

Changes have also been made to the listing rules for special purpose acquisition companies. A SPAC is a cash shell which is used to raise money for investment into a particular sector but with unspecified target assets.

‘We are always monitoring and evaluating our listing rules to ensure that they remain fit for purpose in what is a constantly evolving marketplace,’ said Mrs Le Poidevin.

‘In the last few years we have updated our rules for debt and investment vehicles and now we have revised the rules for trading companies and SPACs. This ensures that we are reflecting current market practice as well as enhancing our product offering to complement the strategic direction of the exchange.’