New TISE Listing Rules

TISE (The International Stock Exchange in the Channel Islands) published their new Listing Rules earlier this month, which will be effective from 1 January 2019.

Please find the link to the new Listing Rules here:

The new Listing Rules have been published now so as to ensure that stakeholders have sufficient opportunity to transition ahead of their introduction from 1 January 2019.

TISE believes that the new Listing Rules reflect current market practices and enhance the product offering of the Exchange, whilst also improving the format in terms of brevity, clarity and consistency and therefore, creating a more user-friendly product.

The main changes can be summarised as follows:

  1. The introduction of rules in relation to debt being offered directly to retail investors;
  2. Revisions to the rules in relation to trading companies issuing equity, including enhancing the attractiveness of the Exchange for Small and Medium Sized Enterprises (SMEs);
  3. Amendments to the rules in relation to Special Purpose Acquisition Companies (SPACs) to reflect evolving market practices;
  4. Enhanced flexibility to enable TISE’s market authority to respond to developments in what is a rapidly changing marketplace; and
  5. An alteration to the format of the Listing Rules to ensure ease of use for TISE Members, other advisers and issuers.

Please do not hesitate to get in touch with Nigel Weston, Kate Storey or Grace Pickering if you have any queries on the new TISE Listing Rules.

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