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Guernsey remains out in front for LSE listings

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

LSE data shows that at the end of December 2015 there were 129 Guernsey-incorporated entities listed on the Main Market, AIM and the Specialist Fund Market (SFM) – an increase of seven over the past 12 months.
 
This is significantly more than the major economic powers of Russia (31), the United States (30), India (28), Australia (26), South Africa (7), Germany (5), China (4) and France (3). It was also well ahead of centres such as Jersey (93), Ireland (54), the Isle of Man (54), the BVI (43), Cayman (42) and Bermuda (36). These are trailed by Luxembourg (9), Gibraltar (7) and Malta (1).
 
Guernsey added 16 new entities to the LSE markets during 2015, which is also more than any other jurisdiction except the UK.
 
“These figures demonstrate that Guernsey remains the jurisdiction of choice for entities listing on the London Stock Exchange,” says Dominic Wheatley (pictured), Chief Executive of Guernsey Finance.
 
“Having so many companies and securities on the exchange incorporated in Guernsey emphasises the significant expertise we have in the Island for London listings. The fact that Guernsey has been responsible for adding 16 new entities during 2015, which is double the number of our nearest competitor outside the UK, also reaffirms the high regard in which Guernsey’s infrastructure and expertise continues to be held by professional advisers in the City of London and beyond.”
 
Guernsey entities listed on the LSE during 2015 included the largest SFM listing of 2015. Tetragon Financial Group Limited (TFG) was admitted to trading on the SFM with net assets of approximately US$2 billion. TFG’s investment portfolio comprises a broad range of assets, including an asset-management business, and covers bank loans, real estate, equities, credit, convertible bonds and infrastructure.
 
Guernsey’s emergence as a location for fintech was demonstrated by peer-to-peer lender Funding Circle’s small business investment trust listing on the Main Market in November. The Funding Circle SME Income fund listed after raising GBP150 million from a group of institutional investors and will focus on loans to small businesses in the UK, US and Europe.
 
Other Guernsey listings on the Main Market during 2015 included the Sequoia Economic Infrastructure Income Fund Limited, real estate fund Regional REIT Limited and Apax Partners’ closed-ended collective investment scheme Apax Global Alpha, which gives public equities investors access to Apax funds for the first time but also invests in public and private debt and equity deals that do not meet the remit of Apax Partners buyout funds.
 
In total, Guernsey (74) has the largest number of non-UK entities listed on the Main Market of the LSE, 37 entities listed on AIM and the Island is home to 18 of the 29 entities listed on SFM.
 
In addition, Guernsey (77) is the clear market leader in terms of the number of non-UK ‘Equity Investment Instruments’ – the majority of investment funds – listed on the LSE.
 
Wheatley says: “One of Guernsey’s key strengths in facilitating global investment is the ability for Guernsey-incorporated entities to quickly and easily access a wide range of international capital markets. In addition to the LSE, companies incorporated in Guernsey can also list on other global exchanges including Euronext and markets in Australia, Johannesburg, Toronto, Frankfurt, New York and Hong Kong, as well as the local Channel Islands Securities Exchange (CISE).”

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