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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.