Volaw has assisted a number of its clients to list both equity and debt securities on the CISE and its predecessor the CISX; amongst these companies are:
- QBE Capital Ltd, a Jersey incorporated subsidiary of QBE Insurance Group Ltd, an Australian-based general insurance and reinsurance group. An important element of the listing of the complex hybrid securities issued by QBE Capital Ltd., was that the CISX had to be approved by the Australian Stock Exchange (“ASX”) as a Recognised Stock Exchange, to avoid stamp duties being imposed in Australia on any exchange of the securities into shares of QBE Insurance Group Ltd. Volaw worked with counsel in Australia to secure this approval – the first recognition of the CISX by any major stock exchange – within less than two weeks.
- Westech Instrument Holdings plc, an English public company whose ordinary shares were listed on the CISX in February 2005; this was the first instance of an English company seeking a primary listing of its shares on the CISX.
- PFI Infrastructure Finance Ltd., an English company that has listed its bonds on the CISE in order to benefit from the exemption from the requirement to withhold tax on the payment of interest, granted to issuers of quoted Eurobonds.
For further information on the CISE or the listing services we provide, please contact Ashley Le Feuvre of Volaw Group.