TISE has reported that there were more new listings on The International Stock Exchange (TISE) during the first six months of 2020 than in the same period of any year since the business was established in 1998.
A total of 390 securities were admitted to the Official List of TISE during the first half, despite the coronavirus pandemic – a rise of more than 60% on the same time in 2019.
Fiona Le Poidevin (pictured), CEO of The International Stock Exchange Group (TISEG), said: “Last year, the uncertainty created largely by Brexit led to subdued levels of listing activity during the first half of 2019. This then gave way to a much stronger performance during the second half, which continued into the first quarter of 2020.
"What has been hugely pleasing is that the volumes of listing applications have continued to hold up unexpectedly well during the second quarter of this year, despite the continuing impact of Covid-19 on the broader economy.”
Overall, at 30 June 2020, the total number of securities listed on TISE had grown to 3,030 and the total market value of those listed securities had risen to more than £400bn.
“What we have seen during the second quarter is a pipeline of business particularly linked to completed private equity and real estate transactions," said Le Poidevin. "This has been increasingly mixed with listings related to corporate refinancing, whether opportunistic or essential, as well as greater proportions of securitisations and high-yield bonds.
"What remains to be seen is whether any delayed impacts from Covid-19 or any resurgent uncertainty surrounding the future UK-EU relationship result in a slowdown in listing activity during the second half of the year.”
Fiona Le Poidevin is set to leave TISE on 27 July, after more than five and a half years at the helm, to take up a portfolio of non-executive directorships.