The International Stock Exchange (TISE) listed more than 500 securities in the first half of 2021, which breaks the record for the number of new listings during the opening six months of a year.
The 507 securities listed between the start of January and the end of June this year represents a 30% increase on the previous record set in 2020 and took the total number of listed securities on TISE’s Official List to 3,431 at 30 June 2021.
Charlie Geffen, Chair of TISE, said: “I am delighted that we have built on our strong performance in 2020 by delivering record listing volumes in the first half of the year. We are continuing to make good progress on executing our strategy to sustain future growth and I look forward to reporting on further developments in the coming months.”
During the first half of the year, TISE retained its position as one of the leading European venues for listing high yield bonds. There were 59 securities listed in the first half of the year, including issuances from pan-European telecommunications firm Altice, cruise company Carnival, beauty business Coty, hire car firm Hertz and supermarket chain Iceland.
TISE has also seen strong growth in securitisation business. There were 45 securities listed on the market in the first six months of the year, which is more than in the entirety of 2020 and included transactions involving leading financial services firms Barclays, CVC and Morgan Stanley.
In the first six months of 2021, TISE has also built on its position as the second largest market for listed UK Real Estate Investment Trusts (REITs). There were 10 new UK REITs listed between the start of January and the end of June, which is more than in all of 2020 and included REITs backed by Man Group and Starwood Capital Group. There are now 38 UK REITs listed on TISE, which represents more than 40% of the listed UK REIT market.
Earlier this week, TISE announced the launch of a comprehensive sustainable market segment, TISE Sustainable, and that it had become a Partner Exchange of the United Nations’ Sustainable Stock Exchanges Initiative (UN SSE). The new segment features a green bond listed on TISE earlier this year by Novelis Sheet Ingot GmbH, an indirect wholly-owned subsidiary of Novelis Inc. which is the world’s largest recycler of aluminium.
As part of the strategy to develop its secondary markets proposition, TISE has announced that it has reached an agreement with Avenir Technology (avenir-technology.com) to supply a price discovery and trading solution. The new platform is designed to operate on an auction basis, but with the ability to configure and accommodate continuous trading if desired.
Cees Vermaas, CEO of TISE, said: “It is a fantastic achievement to set a new record for listings in the first half of the year. This has been a tremendous effort by the team who have also been working hard to develop our proposition as we seek to build on our position as a major European professional bond market by diversifying our products and markets and scaling up our operations and distribution.
“A key part of this drive for continued growth is the implementation of the new price discovery and trading solution. The flexible structure will deliver all the necessary functionality and capacity required for us to progress our strategic objectives. Both the auction and continuous trading features will enable us to deliver even greater value to our current issuers, as well as offering new products and services to a whole new range of potential clients.”