Jersey Favoured For Non-UK LSE Listings
Monday, July 23, 2012
Jersey entities account for the lion's share of non-UK listings on the London Stock Exchange's FTSE100 Index, according to a new report.
Figures compiled by Hemscott confirm that Jersey continues to be the number
one ranked jurisdiction for registering FTSE 100 companies outside of the UK.
Of the eleven such companies as of June 29 this year, eight are listed in Jersey
with a combined market capitalization of GBP69bn (USD108bn). Ireland, Spain and Guernsey
each have one company registration.
Jersey has a further nine companies registered in the FTSE 250 Index, representing a total
market capitalization value from both indexes of more than GBP78bn - at least
six times higher than any of its closest competitors in the market. Jersey is
also one of four jurisdictions alongside Bermuda, the British Virgin Islands
and Guernsey, with the most Alternative Investment Market (AIM) companies registered
outside of the UK.
The research shows also that in the most recent three month period to the end
of June 2012, Jersey was home to five companies which floated on the London
Stock Exchange, half of all the non UK company flotations during the period.
Geoff Cook, chief executive of Jersey Finance - the promotional agency for the island's financial services industry, commented:
"One of Jersey’s strengths in the global markets is its appeal as a jurisdiction
for listings and these latest figures on the listings on London’s Main Markets
highlight our pre-eminent role in attracting the large scale listings. The rankings
help to demonstrate that we have the skilled practitioners here to advise some
of the world’s leading companies on the advantages of registering in Jersey
and that when combined with our attractive companies law, robust regulation
and tax neutrality, (this makes) Jersey an ideal choice for this type of business."
Among the Jersey companies formed to list on the main London Exchange in the
last eighteen months has been one for Glencore, the world’s largest commodity
trader, which established a Jersey holding company in May 2011 for the biggest
ever Initial Public Offering (IPO) on the London Stock Exchange, and Genel Energy
plc, which was admitted to the Main Market in June 2011 and was the second largest
flotation on the London Stock Exchange last year after Glencore.
Worldwide Jersey is home to close to 100 companies which are listed on global
stock exchanges with a total market capitalization exceeding GBP135bn.