The Bahamas International Securities Exchange (BISX) announced today that Commonwealth Bank Limited (“CBL”) has successfully completed the listing process for its Class E,J,K,L,M and N Preference Shares (The Preference Shares). The Shares have been added to the roster of securities listed on the Exchange and will trade through the BISX Automated Trading System (BATS). Each tranche of Preference Shares will trade separately and independently on the Exchange under its own symbol. The Symbols are listed below:
- Commonwealth Bank Limited Class E Preferred Shares – CBLE
- Commonwealth Bank Limited Class E Preferred Shares – CBLJ
- Commonwealth Bank Limited Class E Preferred Shares – CBLK
- Commonwealth Bank Limited Class E Preferred Shares – CBLL
- Commonwealth Bank Limited Class E Preferred Shares – CBLM
- Commonwealth Bank Limited Class E Preferred Shares – CBLN
These Preference shares become the 6th preference share issue to be listed on the Exchange. However this is the first instance that BISX has had 6 tranches of Preference Shares listed at once. This brings the total number of preference shares listed on the Exchange to 11 and the total number of secondary issues to 15. Eligible secondary Issues include any security issued by a public company that is already listed on the Exchange. Included in the secondary listing category are corporate bonds, warrants and preference shares.
Commonwealth Bank’s Chairman, Mr. William Sands Jr. was enthusiastic in completing the Share Listing. “With these listings, we have now listed all our equity instruments on BISX, giving our current and future shareholders easy access to buy and sell the company’s shares”. He added “Ever since our initial Common Share listing in 2000, we have supported the development of the Bahamas Capital Markets. The Preference Share listing complements our Common Share listing so that investors have a choice of equity or fixed interest instruments.”
Speaking about the Preference Shares listing, Keith Davies, the BISX Chief Executive Officer stated: “We congratulate Commonwealth Bank on this positive bold move of listing its 6 tranches of preference shares all at once on the Exchange. By listing these Preference shares on the Exchange, Commonwealth is allowing its preference shareholders increased liquidity through being listed on the national stock exchange of The Bahamas. We appreciate and are always aware of the fact that listing is a choice and we are grateful that Commonwealth Bank was one of the several issuers that listed on the Exchange from inception and since that time has remained a key supporter of the Exchange and by extension the securities market. We value their continued support and we will continue to take the necessary steps and do those things which have established BISX as a trusted, independent market for the listing and trading of securities in the country for the last 15 years.”
NOTE: Attached to this message is the BISX Formal Trading Notices for the Commonwealth Bank Limited Class E, J, K, L, M, and N Preference Shares. These notices advise the public of the securities to be listed on the Exchange and the trading symbols of the listed securities.
For Additional Information Contact:
Mrs. Elude Michel Sturrup