5653 ise_indecon irish support global reach infographics
TRANSCRIPT
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IRISH STOCK EXCHANGE
LOCAL SUPPORT GLOBAL REACH
FACTS & STATISTICS ON THE IRISH STOCK EXCHANGE, ITS LISTED COMPANIES AND THE ISE-RELATED CAPITAL MARKETS INDUSTRY IN IRELAND
JUNE 2016
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OUR VISION #1 EU EXCHANGE CHOICE FOR ISSUERS OF GLOBAL FIXED INCOME, FUNDS AND IRISH SECURITIES
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KEY STATISTICS
38INTERNATIONAL
MEMBERS
47MEMBER FIRMS
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 5
Source: ISE and World Federation of Exchanges June 2016
COUNTRIES WITH ISSUERS ON ISE
MARKETS
>80THE ISEA GLOBAL LEADING INTERNATIONAL BUSINESS
4
>4kISSUERS
35,137 SECURITIES
201 ETFS
6,855 INVESTMENT FUNDS
27,991 BONDS & DEBT
33 IRISH GOVERNMENT BONDS & T-BILLS
57 EQUITIES
#2 NEW BOND
LISTINGS WORLDWIDE
#2 BOND
LISTINGS WORLDWIDE
#1 LIQUIDITY
IRISHSHARES
#1 FUND
LISTINGS WORLDWIDE
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IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 7
ENTERPRISESECURITIES MARKET
for high growth companies raising equity in earlier stages of development
MAINSECURITIES MARKET
for issuers listing debt, equity, funds and exchange traded funds (ETFs)
on an EU regulated market
ATLANTICSECURITIES MARKET
for multinational companies that want to broaden their investor
reach to include $ and pools of capital in a streamlined manner
OUR 4 MARKETS
GLOBALEXCHANGE MARKET
for banks, companies and sovereigns listing debt and investment fund managers listing funds or ETFs
THE ISE PROVIDING ISSUER CHOICE
6
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IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 9
THE ISEA FULL SERVICE STOCK EXCHANGE
8
OUR SERVICES
MARKET DATA, ISEQ INDICES & STATISTICSWe are the offi cial source of market data on ISE markets, providing standardised and tailored data solutions to meet your business needs.
#IPOREADY PROGRAMMEOur education programme for high potential companies equips executives with key skills in raising capital, investor relations and business management.
LEI SERVICESOur online LEI (Legal Entity Identifi er) service allows international organisations to apply for, update, renew or port LEIs required for regulatory or legal purposes.
ISIN SERVICESWe issue ISINs (International Security Identifi cation Number) for Ireland enabling securities to be identifi ed by international markets meeting regulatory or trading requirements.
REGULATORY ANNOUNCEMENTSWe fi le and publish regulatory documents and announcements for issuers enabling them to comply with their regulatory obligations.
BOND LISTINGWe provide a streamlined listing service on our two debt markets for issuers of bank, corporate and sovereign bonds and other debt related securities.
FUND & ETF LISTINGWe enable investment fund managers access global investors through the listing of a broad range of investment funds and exchange traded funds (ETFs).
EQUITY LISTINGWe operate three equity markets suited to companies in various stages of their lifecycle looking to access international pools of capital and investors.
TRADING & MEMBERSHIPWe offer membership for trading in shares, ETFs, Irish Government bonds and other securities using world-class, easily accessible and cost-effective trading and post-trade infrastructure.
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10
TOP 6 MOST SIGNIFICANT FACTORS IN COMPANIES DECISION TO LIST ON IRISH STOCK EXCHANGE
Access to Irish investors
Access to international investors
Achieving the best valuation for the company
Ability to maintain or grow liquid market for shareholders
Profi le of company raised with investors, customers, suppliers, other fi nance providers and employees
Access to option of dual listing with certain international markets
Source: Indecon analysis of Confidential Survey of ISE-listed Companies
88.4%
72%
69.2%
68%
80.8%
77%
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 11
WHY COMPANIES LIST ON THE ISE
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ISE LISTED COMPANIES RAISING FUNDS INTERNATIONALLY
12
26bn
87%
13%3.4bn
22.6bn
% OF TOTALFUNDS RAISEDbn
Irish Companies
Other Companies
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 13
Source: ISE *Equity funds raised relate to all listings and include equity monies raised through introductory offers, share placings, open offers, rights issues, share allotments, and other means.
40NEW COMPANY LISTINGS ON ISE MARKETS 2006 - 2015
DALATA HOTEL GROUPMAINSTAY MEDICAL
MALIN CORPORATION
PETROCELTIC INTL
PETRONEFT RESOURCES
IRISH RESIDENTIAL PROPERTIES REIT
PERMANENT TSB
TOTAL PRODUCE
APPLEGREEN
SMURFIT KAPPA GROUPORIGIN ENTERPRISES
FIRST DERIVATIVES
MERRION PHARMACEUTICALS ARYZTAHOSTELWORLD
FASTNET OIL AND GAS
FALCON OIL AND GAS
GREEN REIT
HIBERNIA REIT
GAMEACCOUNT NETWORK
MINCON
67% Source: Federation of European Securities Exchanges (FESE) - market research 2007
INTERNATIONAL INVESTORS IN IRISH LISTED COMPANIES
EQUITY FUNDS RAISED 2006 - 2015
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SECTORAL PROFILE
27
26
53
Enterprise Securities
Market (ESM)
Total
Main Securities Market (MSM)
Food & Beverage 17%
Mining 13%
Travel & Leisure 11%
Health Care 9%
Financial Services 9%
Technology 8%
Oil & Gas 7%
Construction & Materials 6%
Industrial Goods & Services 6%
Real Estate 6%
Retail 4%
Media 4%
ISE MARKET
ISE LISTED COMPANIES MARKET PROFILE
COMPANIES ON ISE MARKETS
# COMPANIES
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 1514
Source: ISE - June 2016
Source: ISE - June 2016
89%
67%
DUAL LISTED
PRIMARY LISTED IN IRELAND
-
Source: ISE - June 2016
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 17
ISE LISTED COMPANIES TOP 20 COMPANIES INCLUDED IN ISEQ
16
ISEQ 20 CONSTITUENTS
Travel & Leisure 31%
Food & Beverage 27%
Construction & Materials 26%
Financial Services 7%
Industrial Goods & Services 6%
Real Estate 3%
SECTORAL PROFILE OF ISEQ 20
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INTERNATIONAL PARTNERSWORLD CLASS ACCESSIBLE SYSTEMS
IRISH LISTED COMPANIES #1 TRADINGVENUE
18 IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 19
CREST
SETTLEMENT
XETRA
TRADING
EUREX
CLEARING
EQUITY TRADING MEMBERSSOURCING GLOBAL INVESTORS
Source: ISE - June 2016
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FACTORS INFLUENCING DECISIONS BY DEBT ISSUERS TO LIST ON ISE - VIEWS OF ISE DEBT LISTING AGENTS
Effi ciency of listing process
Experience and reputation of the ISE and the Central Bank
Expertise and technical knowledge
Communication and willingness to engage
Competitive listing fees
Choice of markets
Source: Indecon Confidential Survey of Irish Stock Exchange Debt Listing Service Providers
100%
88.9%
88.9%
66.6%
100%
100%
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 2120
WHY GLOBAL DEBT ISSUERS CHOOSE THE ISE
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IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 2322
DEBT LISTINGGLOBAL FOOTPRINT
AUTOPISTAS METROPOLITANAS DE PUERTO RICO
FOSUN INTERNATIONALFOSUN INTERNATIONALFOSUN INTERNATIONALFOSUN INTERNATIONALFOSUN INTERNATIONALFOSUN INTERNATIONALFOSUN INTERNATIONALFOSUN INTERNATIONALFOSUN INTERNATIONALFOSUN INTERNATIONALFOSUN INTERNATIONAL
TRINITY BIOTECHTRINITY BIOTECHTRINITY BIOTECH
FANNIE MAE
COMISIN FEDERAL DE ELECTRICIDADCOMISIN FEDERAL DE ELECTRICIDADCOMISIN FEDERAL DE ELECTRICIDADCOMISIN FEDERAL DE ELECTRICIDADCOMISIN FEDERAL DE ELECTRICIDADCOMISIN FEDERAL DE ELECTRICIDADCOMISIN FEDERAL DE ELECTRICIDAD
SAXO BANKSAXO BANK
Source: ISE - June 2016
DISCOVERY COMMUNICATIONSDISCOVERY COMMUNICATIONS
SKY PLC
DEBENHAMSDEBENHAMSDEBENHAMS
VODAFONEVODAFONEVODAFONE
FERRARIHIPERCORHIPERCOR
VERIZON COMMUNICATIONSVERIZON COMMUNICATIONSVERIZON COMMUNICATIONSVERIZON COMMUNICATIONSVERIZON COMMUNICATIONS
IBERIAIBERIAIBERIAIBERIAIBERIA
SACYR
ALITALIAALITALIAALITALIAALITALIAALITALIAALITALIAALITALIAALITALIAALITALIA
AERCAP
BANCO DE SABADELLBANCO DE SABADELLBANCO DE SABADELLBANCO DE SABADELLBANCO DE SABADELLBANCO DE SABADELL
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IRISH STOCK EXCHANGE
#2 BOND LISTINGS WORLDWIDE JUNE 2016ACROSS 63 EXCHANGES
IRISH STOCK EXCHANGE
#2 NEW BOND LISTINGS WORLDWIDE JUNE 2016ACROSS 46 EXCHANGES
Source: World Federation of Exchanges (WFE) Source: World Federation of Exchanges (WFE)
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACHIRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 2524
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
Tel-Aviv Sto
ck Exchang
e
Bo
lsa de Valo
res de C
olo
mb
ia
Ho
ng K
ong
Exchang
es and C
learing
Bo
lsa Mexicana d
e Valores
Mo
scow
Exchang
e
Bo
lsa Nacio
nal de Valo
res
Taipei E
xchange
SIX Sw
iss Exchang
e
Shenzhen Stock E
xchange
Johannesb
urg Sto
ck Exchang
e
Bo
lsa de C
om
ercio d
e Bueno
s Aires
Oslo
Bo
rs
Singap
ore E
xchange
BM
E Sp
anish Exchang
es
Wiener B
orse
Shanghai Sto
ck Exchang
e
BSE
India Lim
ited
Euro
next
Natio
nal Stock E
xchange o
f India
NA
SDA
Q O
MX
No
rdic E
xchange
Ko
rea Exchang
e
Lond
on SE
Gro
up
Irish Stock E
xchange
Luxemb
ourg
Stock E
xchange
28,020
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Kazakhstan Sto
ck Exchang
e
Mo
scow
Exchang
e
Bo
lsa Nacio
nal de Valo
res
SIX Sw
iss Exchang
e
Taipei E
xchange
Wiener B
orse
Oslo
Bo
rs
Bo
rsa Istanbul
Johannesb
urg Sto
ck Exchang
e
Shenzhen Stock E
xchange
Bo
lsa de C
om
ercio d
e Bueno
s Aires
NA
SDA
Q O
MX
No
rdic E
xchange
Natio
nal Stock E
xchange o
f India
Euro
next
BSE
India Lim
ited
Ko
rea Exchang
e
Irish Stock E
xchange
Luxemb
ourg
Stock E
xchange
3,148
-
WHY GLOBAL INVESTMENT MANAGERS CHOOSE THE ISE
26 IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 27
FACTORS INFLUENCING DECISIONS TO LIST INVESTMENT FUNDS ON ISE VIEWS OF ISE FUND SPONSORS
100%
75.0%
62.5%
87.5%
75.0%
Effi ciency of listing process
Experience and reputation of the ISE and Central Bank
Open communication and willingness to engage
ISE Competitive listing fees
Expertise and technical knowledge
Source: Indecon Confidential Survey of Irish Stock Exchange Funds Listing Service Providers
-
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Ko
rea Exchang
e
Mo
scow
Exchang
e
Japan E
xchange G
roup
Nasd
aq - U
S
NA
SDA
Q O
MX
No
rdic E
xchange
Shenzhen Stock E
xchange
Bo
lsa de C
om
ercio d
e Santiago
TMX
Gro
up
SIX Sw
iss Exchang
e
Euro
next
NYSE
Lond
on SE
Gro
up
BM
E Sp
anish Exchang
es
Deutsche B
oerse
Natio
nal Stock E
xchange o
f India
Luxemb
ourg
Stock E
xchange
Irish Stock E
xchange
7,056
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH28 IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 29
GLOBAL INVESTMENT MANAGERSWITH ISE LISTED FUNDS
Source: ISE - June 2016Source: World Federation of Exchanges (WFE)
INVESTMENT FUNDS AND ETFS
#1 FUND LISTINGSWORLDWIDE JUNE 2016ACROSS 57 EXCHANGES
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3030
BENEFITS OF HAVING A LOCAL STOCK MARKET
Source of equity funding for enterprise
Lowers the cost of capital for domestic fi rms
Creates local knowledge and specialisation
Delivers macroeconomic benefi ts including greater R&D intensity and higher levels of foreign direct investment (FDI)
Research compiled by Indecon
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 31
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WORLDWIDE REVENUES
WORLDWIDE EMPLOYEES
7
6,5
61
m
9
0,6
79
m
8
0,9
80
m
7
8,1
93
m
7
3,4
91
m
7
8,6
53
m
8
2,8
67
m
20
07
28
4,1
36
20
08
28
6,6
70
20
09
27
1,8
19
20
10
25
6,3
15
20
11
26
0,2
15
20
12
26
3,3
01
WORLDWIDE EARNINGS
6
,83
6m
8
,16
8m
7
,27
3m
6
,16
0m
6
,78
3m
8
,14
0m
7
,97
6m
263,000
8bn
EMPLOYEES
EARNINGS
83bnREVENUES
25
8,0
55
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
06
Source: Indecon analysis based on Bloomberg 2012 data. Figures exclude Tesco and Diageo.
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 3332
ISE LISTED COMPANIES GLOBAL FOOTPRINT
-
DIRECT
m m
ECONOMY WIDE
24.0bn
97,435
12.1bn
7.3bn
5.3bn
49,148
15.0bn
9.5bn
Output/Sales Revenues from Irish Operations
Irish Employment Supported Full Time Equivalents (FTEs)
Irish Non-Labour Business Expenditure
Irish Employment Incomes Supported
GVA/GDP Contribution
2.5bn 4.2bn
Source: Estimated impact based on Indecon analysis of 2012 figures. Figures exclude Tesco and Diageo.
ECONOMIC IMPACT AND CONTRIBUTION IN IRELANDIRISH OPERATIONS OF ISE LISTED COMPANIES
ISE LISTED COMPANIES SUPPORTING THE IRISH ECONOMY
34 IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 35
-
LAWYERS
ACCOUNTANTSRESEARCH ANALYSTS
STOCKBROKERSINVESTMENT FIRMS
INTERNATIONAL BANKS
Member fi rms supporting trading, corporate broking and research
Fund sponsors Equity sponsors and ESM advisors
Legal and accountingprofessionals supporting listing
THE ECOSYSTEM SUPPORTING LISTING AND TRADING ON THE ISE
CAPITAL MARKETS IN IRELANDEMPLOYING HIGHLY SKILLED PROFESSIONALS
DEBT EQUITIES
IRISH GOVERNMENT
BONDSFUNDS
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 3736
Debt listing agents
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DIRECT
m m
ECONOMY WIDE
704m
2,977
377m
130m
207m
2,101
177m 314m
242m
325m
Output/Sales Revenues from Irish Operations
Irish Employment Supported - Full-Time Equivalents (FTEs)
Irish Employment Incomes Supported
Irish Non-Labour Business Expenditure
Tax Contribution (incl. Stamp Duty)
GVA/GDP Contribution
230m -
Source: Estimated impact based on Indecon analysis of 2012 figures
ECONOMIC IMPACT AND CONTRIBUTION IN IRELANDIRISH OPERATIONS OF ISE-RELATED ECOSYSTEM
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH 3938
CAPITAL MARKETS IN IRELAND SUPPORTING THE LOCAL ECONOMY
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Indecon statistics and analysis from research conducted on behalf of the Irish Stock Exchange - published October 2014.
Irish Stock Exchange 2016The Irish Stock Exchange plc is regulated by the Central Bank of Ireland.
Source: Indecon Research of market participants 2013
IRISH STOCK EXCHANGE LOCAL SUPPORT GLOBAL REACH40
A key advantage of the ISE is the flexibility of approach that it can offer to issuers via GEMThe openness of the ISE to converse with legal counsel/issuers directly has become a marked advantage over its competitors.
The ISE was important to the development of the company as it enabled us to raise equity in order to grow the business and pay down debt.
The ISE is still seen as the exchange of choice for listing investment funds. Clients appreciate the smooth listing process. Costs are on a par with various exchanges around the world.
VIEWS ON THE ISEVIEWS ON THE ISEVIEWS ON THE ISEVIEWS ON THE ISEVIEWS ON THE ISE
INVESTMENT FUND SPONSOR
DEBT LISTING AGENT
ISE-LISTED COMPANY
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Irish Stock Exchange28 Anglesea StreetDublin 2, Ireland
T +353 1 617 4200F +353 1 677 6045
www.ise.ie