TISE reports sustained listings growth in first half

ST PETER PORT, Guernsey, July 8, 2024 /PRNewswire/ -- The International Stock Exchange (TISE) listed 444 securities during the first half of 2024, an 18.4% increase on the equivalent period last year.

The new listings contributed to the total number of securities on TISE's Official List reaching 4,371 on 30 June 2024, which is an increase of 5.6% year-on-year and a record high in the history of the Exchange.

The total market value of all listed securities surpassed the £700 billion mark for the first time, reaching £708 billion at the end of June.

Cees Vermaas, CEO of TISE, said: "I am delighted to report strong listing volumes on our public market during the first half of 2024. Global macro-economic conditions had subdued listing activity across the European corporate bond markets during the last couple of years but, with inflation under control, interest rates coming down and an improved outlook for growth, business flows have now started to recover. We are very pleased that clients continue to recognise our strengths as a leading European venue for listing bonds offered to institutional and professional investors."

During the first half of the year, there were 436 newly listed securities admitted to TISE's leading European professional bond market, the Qualified Investor Bond Market (QIBM). TISE has maintained its market-leader position across both private equity debt and high yield bonds and with the securitisation market also rebounding in 2024, TISE continues to grow its reputation as a listing venue for this debt product.

There were eight newly listed securities across TISE's equity market during the first six months of the year as it sustained its position as the second largest venue for listed UK REITs, just behind the London Stock Exchange (LSE).

Mr Vermaas added: "This is a very positive opening six months of the year. We saw strong growth in new listings during the first quarter and this has continued through the second quarter as the soft-landing narrative has been sustained, primarily owing to the resilient growth in the US economy. M&A activity is returning, the wave of refinancing continues and now a lower interest rate environment is bringing more new high yield corporates to the market. A continuation of this upward momentum in the economic picture gives us reason to be optimistic for the second half of the year."