Netflix and Aston boost stock exchange
SECURITIES issued by the likes of Netflix and Aston Martin saw the Guernsey-headquartered International Stock Exchange maintain its position as a leader in the European high yield bond market.
Some 55 were securities were issued by global brands listing on the exchange during the year. This took the total number of high yield bonds listed on TISE to 212 at the end of December 2019.
Overall, there were 656 new listings on TISE during 2019 – contributing to a 5% growth in the total number of listings on the market during the year. There were 2,995 securities listed on TISE at the end of December 2019, up from 2,857 at the end of December 2018.
Fiona Le Poidevin, CEO of The International Stock Exchange Group Ltd, said: ‘Last year, and especially the first half of 2019, was characterised by political and economic uncertainty that fed through to the number of new listings globally.
‘However, activity picked up significantly during the second half of the year and it is pleasing to see that TISE remains the exchange of choice in our core markets.’
During 2019, the first green bonds were admitted to the exchange’s green market segment, Tise Green. Faro Energy, which specialises in solar energy projects in Latin America and other emerging markets, has had four bonds successfully admitted to Tise’s official list and subsequently approved to enter Tise Green. The bonds are certified green bonds under the climate bonds initiative climate bond standard and certification scheme – with the proceeds intended to be used to finance solar energy projects in Brazil.
In addition, companies such as financial services groups Blackstone, KKR, Societe Generale and Willis listed investment grade debt on TISE last year. There has also been a flow of listings emanating from the Far East, particularly transactions involving Chinese investment into Hong Kong infrastructure and real estate.