IQE Securities Sponsor Services Limited has been approved as a Category 1, Category 2 and Category 3 sponsor, enabling the firm to arrange and sponsor the listing of debt securities, investment vehicles and trading companies on TISE.
IQE Securities Sponsor Services Limited is a wholly owned subsidiary of IQE Limited, the international fiduciary services provider. It is the first Isle of Man company to become a member of TISE.
Fiona Le Poidevin, CEO of The International Stock Exchange Group (TISEG), said: "I am delighted that IQE has been approved as a Listing Member of TISE and in doing so, become the first member from the Isle of Man. We launched our presence in the island in March and so it is a great achievement for us to have the first member come on board so soon afterwards. This is another major milestone in the development of our business as it means that now listings can be facilitated directly from the Isle of Man, whether debt, investment vehicles or trading companies."
TISE has introduced Channel Islands and Isle of Man segments of its Official List. The market segments have been introduced to provide greater visibility of TISE listed trading companies operating from the respective jurisdiction(s).
TISE was also a sponsor at the recent ISLEXPO held at the Villa Marina, Douglas. The event focused on the products and services being offered in the Isle of Man which companies can access to assist in their ongoing development.
TISE was showcasing the various reasons why a company may choose to list, including raising growth capital and how it can provide a cost-effective and convenient option which means that access to the capital markets is viable at an earlier stage in a company's development cycle.
Carolyn Gelling, Head of the Isle of Man Office of TISEG, added: "I'm very pleased that IQE has become a member of TISE. There has been significant interest from a number of different companies in the island who want to work with us and this is a great first step towards us creating a network of members and associated advisers and administrators in the Isle of Man who will facilitate business with TISE."
During the first five months of the year there have been 270 securities listed on TISE, which is 90 (50%) more than the same time in 2016. The new listings have included a range of debt instruments, in particular high yield bonds, four closed ended and eight open ended investment securities and one equity, PraxisIFM Group.
Anne Couper Woods, Director of IQE Securities Sponsor Services Limited, said: "It made perfect sense to expand our services in this way as it builds on our significant experience working on admissions to the London Stock Exchange's AIM and the Main Market. IQE sees listing on TISE as a great opportunity for both local and international companies seeking to raise funds and some liquidity, seeking to facilitate retirement, succession plans or an exit route.
"Opening a branch office of TISE here shows great confidence in the island and fits well with the government's strategy of diversity by building on existing strengths. We look forward to being part of the island's continued growth and prosperity and to supporting local and international companies on their own growth trajectories."
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On a recent transaction we worked closely with IQE to set up and run a corporate structure to facilitate a new residential development in London. We found the IQE team responsive and proactive. It was clear that their property experience added value and understanding of the clients’ requirements on the project. Christine Jackson, Partner, Real Estate Group, Lawrence Graham LLP