Bahamas International Securities Exchange
Monday, November 30, 2015
Monday, November 30, 2015
The Bahamas International Securities Exchange (BISX) announced [Friday] that Cable Bahamas Ltd. (“CAB”) has successfully completed the process for two preference shares to be listed on the Exchange. The two securities will now trade through the Exchange’s trading system, The Bahamas Automated Trading System (BATS). Information regarding these securities is presented below:
• Series 9 Preference Shares will be listed under the symbol CAB9
• Series 10 Preference Shares will be listed under the symbol CAB10
In May 2000 BISX successfully launched its domestic market for the listing and trading of local public companies and since 2008 BISX has been listing the secondary issues of BISX listed issuers.
Holders of secondary issues listed on an exchange benefit from increased liquidity in the secondary market for their securities due to the centralized nature of the market. Additionally, investors benefit from a transparent process when it comes to the pricing of their securities as the securities are traded in compliance with published trading rules.
Barry Williams Senior VP Finance noted that “Cable Bahamas is very pleased to continue to facilitate the organized access of our securities to the investing public. We support BISX’s efforts in enhancing the domestic market securities activities and recognize that it is a mutually beneficial for the investing public as well as listing companies such as Cable Bahamas Ltd. We are proud to support our shareholders and stakeholders in this way.”.
Speaking about the CAB listings, Keith Davies, the BISX Chief Executive Officer stated: “Cable Bahamas continues to be a strong proponent of the BISX Market as a home for the listing and trading of its securities and I would like to acknowledge Cable Bahamas for its continued support of the development and expansion of the BISX market through the listing of two additional preference shares on the Exchange. These join the Cable Bahamas Series 6 and the Series 8 as the third and fourth preference shares to be listed on BISX by Cable Bahamas. We look forward to the company’s continued growth and expansion and for their continued use of our market for the benefit of their shareholders and investors alike.”
CAB9 is the second United States Dollar (US$) security to be listed and traded on the Exchange. Investors who have been approved by the Central Bank of The Bahamas Exchange Control Department or non-residents, for Exchange Control purposes, are the only persons who are eligible to trade this security. Other than the fact that the security is denominated in US$, CAB10 will trade over the Exchange under the same rules as every other listed security.
NOTE: Attached to this message is the BISX Formal Trading Notice for the Cable Bahamas Ltd Series 9 Preference Shares and the Cable Bahamas Ltd Series 10 Preference Shares. This notice advises the public of the securities to be listed on the Exchange, the date that these securities will commence trading and the trading symbol of the listed securities.
For Additional Information Contact:
Email: info @ bisxbahamas (com)