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Convertible Bonds Boost For Channel Islands Stock Exchange

by Jason Gorringe, Lowtax.net, London
19 August, 2015

The Channel Islands Securities Exchange (CISE) has reported healthy growth, especially in the area of convertible bonds which were prominent among the 203 newly listed securities in the first half of 2015.

The number of new listings is up 14.7 percent on the same period last year and takes the total number of listed securities on the CISE to 2,226 at the end of June 2015.

Fiona Le Poidevin, Chief Executive Officer of the CISE, said: "It has been a strong start to the year for the CISE and it is especially encouraging that we have developed a new pipeline of business in convertible bonds."

"Corporates are increasingly choosing to raise fresh investment by issuing convertible bonds, which can later be converted into equity, rather than diluting their share capital. Many of these firms will have their trading companies listed on another exchange, such as the London Main Market. However, they will choose to list convertible bonds on the CISE due to the fact that we have wide international recognition whilst being competitive on cost and responsive to client needs. A number of groups have now also given us repeat business, which is testament to the positive experience received when listing on the CISE."

"During the first half of the year the listings team has been busy with applications and we have also opened our office in Jersey. This month, the Guernsey office has moved to new, larger premises and we will also be stepping up our marketing activity so it is a very exciting time for the CISE."

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