CAREY OLSEN: Carey Olsen takes lead role in new TISE ‘Specialist Companies’ equity rulebook

Press Release from Carey Olsen, Friday 8 November, 2024.

The International Stock Exchange (TISE) has today announced the publication of its new ‘Specialist Companies’ equity rulebook (the Specialist Companies Equity Rules), with effect from 11 November.

Carey Olsen is part of the TISE Rules Committee, which helped finalise the Specialist Companies Equity Rules (as well as all previous Listing Rule updates).

The Specialist Companies Equity Rules are intended to attract privately held structures whose securities are not intended to be frequently transferred or traded and which are primarily held by institutional and professional investors.

The ability to list equity as a Specialist Company provides an efficient alternative to issuers whose securities are closely held and which do not cleanly fit within TISE’s ‘trading’ or ‘investment vehicle’ categories for general equity listings.

The Specialist Companies Equity Rules offer increased flexibility over TISE’s full equity listing rules, with streamlined application and disclosure requirements as well as continuing obligation requirements proportionate to the investor profile. Notably, there is no requirement to make the listing document publicly available on TISE’s website or to provide TISE with general shareholder meeting notifications under the Specialist Companies Equity Rules. Another key update is that companies listed under the Specialist Companies Equity Rules do not need to publish financial information on TISE’s website as a matter of course.

Matthew Ecobichon, Counsel in Carey Olsen’s Jersey debt capital markets team, commented: “We are delighted to have taken a central role in the development of the Specialist Companies Equity Rules and have already seen interest in the new segment from a number of issuers.”

The Specialist Companies Equity Rules are the latest in a series of new offerings from TISE, including TISE Private Markets (which facilitates the buying and selling of shares in private companies), TISE Sustainable (a comprehensive market segment which enables the flow of capital into investments that promote environmental, social or sustainable activities) and TISE’s Approved Passport Programme (a pan-European fast track listing service available for UK or EEA-approved debt programmes).

Carey Olsen Corporate Finance Limited undertakes listing services on behalf of the Carey Olsen group and is consistently ranked as the leading TISE listing agent. The firm’s listing teams in Jersey and Guernsey are comprised of market-leading lawyers and dedicated listing analysts who assisted with almost 80% of new high yield bond issuances and 35% of all securities listed on TISE in 2023.

8 February 2024

UAE: UAE wealth fund said to plan $4-5 bn investments via India’s new finance hub

Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the United Arab Emirates (UAE), is setting up a $4-5 billion fund to invest in India through a tax-neutral finance hub in

Read More
20 April 2024

SINGAPORE: Updates to Tax Incentives for Single Family Offices

The Monetary Authority of Singapore (MAS) has recently introduced new guidelines for Single Family Offices (SFOs) applying for tax incentives under the Section 13O and Section 13U schemes. The changes

Read More
1 November 2024

SINGAPORE: Singapore Publishes National Anti-Money Laundering Strategy

Singapore today published its National Anti-Money Laundering (AML) Strategy, as part of continuing efforts to maintain the effectiveness of our AML framework. The National AML Strategy[1] outlines our

Read More
10 January 2025

US: US government enshrines renewables tax credits

The US Department of the Treasury and the Internal Revenue Service have moved to enshrine certain tax credits under President Joe Biden’s Inflation Reduction Act (IRA) into the American tax code

Read More