Guernsey has more entities listed on the London Stock Exchange (LSE) than any other jurisdiction globally excluding the UK, according to figures from the market authority.
LSE data shows that at the end of December 2013 there were 115 Guernsey-incorporated entities listed on the Main Market, the Alternative Investment Market (AIM) and the Specialist Fund Market (SFM).
This is more than the major economic powers of the US (37), Australia and Russia (both 30), India (29), South Africa (8), Germany (6), China (4) and France (3). It was also well ahead of competitor centres Jersey (88), Ireland and the Isle of Man (both 51), Cayman (50), Bermuda (45) and BVI (42). These are trailed by Luxembourg (11), Singapore (6), Gibraltar (5), Hong Kong (3) and Malta (1).
Guernsey added 17 new entities to the LSE markets during last year, which is more than any other jurisdiction except the UK. Jersey added 12, Cayman 9, BVI 7, and Bermuda and Ireland each listed 3 entities.
Fiona Le Poidevin (pictured), chief executive of Guernsey Finance – the promotional agency for the island’s finance industry, says: “Guernsey became home to some particularly notable LSE listings during 2013, including three major energy funds. This, together with the fact that we added more entities to the market last year than any other centre outside of the UK, shows the high regard in which our infrastructure and expertise is held by professional advisers in the City of London and beyond.
“Indeed, these figures highlight that Guernsey is the jurisdiction of choice for non-UK LSE listings and reaffirm that there are more Guernsey incorporated companies and securities on the exchange than from any other jurisdiction globally, with the exception of the UK.”
Guernsey has a particularly strong reputation for listed funds, investing across a wide range of asset classes. Those listing on the LSE during 2013 included two prominent renewable energy funds, Bluefield Solar Income Fund and The Renewables Infrastructure Group, with city sources quoting the latter as the largest IPO of a clean energy firm in London. In addition, there has been another listed energy investment vehicle in the form of the USD1.2bn Riverstone Energy Limited, which in October became the largest cross-border IPO since November 2012.
Figures from the LSE show that, of its peer group, Guernsey (68) has the most number of entities listed on the Main Market of the LSE, followed by Jersey (40), Ireland (25), BVI (22) and Bermuda (21).
Guernsey has 34 entities listed on AIM and 13 of the total 20 listings on SFM.
In addition, Guernsey (71) 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 (17) and Cayman (11).
Le Poidevin says: “Guernsey is an extremely popular location for establishing vehicles which will list on the LSE, whether the Main Market, AIM or SFM. However, companies incorporated in Guernsey can also list on the local Channel Islands Securities Exchange (CISE), Euronext Amsterdam, 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, including investment out of and into the emerging markets.”