TISE reports double digit listings growth and new records in 2024

The International Stock Exchange (TISE) listed 952 securities during 2024, a 13.1% increase year on year.

The new listings contributed to the total number of securities on TISE’s Official List reaching 4,487 at 31 December 2024, which is an increase of 5.3% year on year and a record high for the Exchange.

The total market value of all listed securities surpassed the £750 billion mark for the first time, reaching £756 billion at the end of December.

Cees Vermaas, CEO of TISE, said: “I am delighted to report double digit growth in new listings on our public market during 2024. Global macro-economic conditions subdued listing activity across European corporate bond markets during the last couple of years, but with inflation brought under control, interest rates lowered and an improved outlook for economic growth, business flows recovered last year. The records we have set during 2024 demonstrate that clients continue to recognise our strengths as a leading European venue for listing bonds offered to qualified investors.”

During 2024, there were 939 newly listed securities admitted to TISE’s Qualified Investor Bond Market (QIBM), which maintained its market-leader position across both private equity debt and high yield bonds.

There were 343 private equity debt securities listed on TISE during last year. With clients continuing to value the proven path to listing offered by TISE, it remains the largest product type. In total, there are more than 2,000 private equity debt securities listed on TISE.

TISE is also widely recognised as Europe’s leading market for listing high yield bonds, with the total number on the Exchange climbing to more than 460 at the end of December. There were 126 newly listed high yield bonds during 2024, up more than 70% year on year, as borrowers refinanced (or repaid) their outstanding debts, and latterly, more new issuances came to market. Companies listing high yield bonds on TISE during the year included global brands Aston Martin, Avis, Carnival, Coty, Dufry, Flutter Entertainment, MAHLE, Picard and TUI.

With the securitisation market also rebounding in 2024, TISE listed 138 securitisations during the year, virtually doubling the number during 2023. TISE continues to grow its reputation as a listing venue for this debt product and has nearly 550 securitisation bonds admitted to its Official List.

There were 13 newly listed securities across TISE’s equity market during 2024. Of those, four securities were admitted under TISE’s Equity Listing Rules for Specialist Companies which were introduced in November. Enhancing its product range and responding to changing market expectations, TISE launched the new rulebook to streamline initial application and continuing obligation requirements for Specialist Companies such as SPV holding companies and closely held Real Estate Investment Trusts (REITs).

One of the newly listed Specialist Companies was among the four UK REITs which listed on TISE during 2024. Another of the UK REITs was Highcroft Investments Plc which delisted from the London Stock Exchange (LSE) and listed on TISE. As the second largest venue for listed UK REITs, there are currently 42 UK REITs listed on TISE.

TISE’s sustainable finance segment, TISE Sustainable, attracted new admissions during the year from telecoms groups Vodafone, Virgin Media and O2, as well as the Finnish headquartered manufacturer and pan-European provider of sustainable indoor climate products, Purmo Group. By the end of 2024 there was a record £25.7 billion of listings on TISE supporting environmental, social and sustainable initiatives.

The UK remained the largest single source of new business, followed by Luxembourg and Ireland. A record 28% of securities newly listed on TISE during the year originated from the EU, including issuers domiciled in France, Germany, Greece, Ireland, Luxembourg, The Netherlands and Sweden. Approximately 3% of new business came from the US and Canada.

Beyond its public market, TISE continued with the efficient and effective delivery of its private markets service to the first client, Blue Diamond Limited. In addition, TISE has developed a strong pipeline of prospective clients for TISE Private Markets which provides private companies and other private asset owners with their own ‘stock exchange in a box’.

Mr Vermaas added: “We’ve had a hugely successful year. Our significant achievements reflect the progress we are making in growing our profile as an established operator of public markets with an enlarged portfolio of financial markets and securities services for both public and private companies. I’m looking forward to continuing this work with all our stakeholders during 2025.”