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Dominic Wheatley, Guernsey Finance

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Guernsey is No1 for non-UK LSE listings

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Guernsey has more non-UK entities listed on the London Stock Exchange (LSE) than any other jurisdiction globally, according to new figures from the market authority.

LSE data shows that at the end of December 2014 there were 122 Guernsey-incorporated entities listed on the Main Market, the Alternative Investment Market (AIM) and the Specialist Fund Market (SFM).

This is significantly more non-UK entities than any other jurisdiction, with Guernsey trailed by Jersey (92), Isle of Man (54), Ireland (53), Cayman (50), BVI (44), Bermuda (41), Russia (33), US (32) and India (31).  

Guernsey added 13 new entities to the LSE markets during last year, which is also more than any other jurisdiction except the UK. 

Dominic Wheatley, Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, says: “During 2014 Guernsey not only became home to more new non-UK listings than any other jurisdiction but there were also some particularly notable listings across all three markets of the LSE. 

“Guernsey listings on the Main Market included two renewable energy funds; the Island provided the largest listing of the year on AIM; and our listings on SFM included two debt funds, which is a particularly popular asset class at the moment.

“This further enhances our position as the leading jurisdiction for non-UK LSE listings, particularly investment funds. It also reaffirms the high regard in which the Island’s infrastructure and expertise is held by professional advisers in the City of London and beyond.”

Guernsey entities listed on the LSE during 2014 included the Main Market John Laing Environmental Asset Group and NextEnergy Solar Fund, both renewable energy focused entities, and Schroders’ European Real Estate Investment Trust. 

Real estate was also the focus of the largest AIM listing during 2014. Guernsey-incorporated Market Tech Holdings Limited combined a £750 million initial public offering (IPO) with an oversubscribed placing which raised £100 million before expenses. Market Tech is majority owned by Israeli entrepreneur Teddy Sagi and combines a total of 11 acres of real estate assets in London’s Camden Town under single ownership.

Guernsey listings on the SFM during last year included the debt focused Fair Oaks Income Fund and the NB Distressed Debt Investment Fund. The fund from Neuberger Berman adds to their existing Guernsey-incorporated NB Private Equity Partners Limited which, at GBP787 million, is the largest entity on the SFM by market capitalisation.            
      
Figures from the LSE show that Guernsey (70) has the largest number of non-UK entities listed on the Main Market of the LSE, 37 entities listed on AIM including the largest listing of 2014; and the Island is home to 15 of the 22 entities listed on SFM.

In addition, Guernsey (73) is the clear market leader in terms of the number of ‘Equity Investment Instruments’ – the majority of investment funds – listed on the LSE, followed by Jersey (18) and Cayman (14).

Wheatley says: “Guernsey is the jurisdiction of choice for listings on the LSE. However, companies incorporated in Guernsey can also list on the local Channel Islands Securities Exchange (CISE), Euronext, markets in Australia, Johannesburg, Toronto and Frankfurt, as well as the Hong Kong Stock Exchange (HKEx), among many other exchanges around the world. This means that Guernsey provides an ideal gateway to global capital markets.”​

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