TISE announces Blue Diamond as first private market client

News provided by

The International Stock Exchange (TISE)

Aug 21, 2023, 07:07 ET

SAINT PETER PORT, Guernsey, Aug. 21, 2023 /PRNewswire/ -- The International Stock Exchange (TISE) has announced that Blue Diamond Limited, the leading garden centre group based in the UK and Channel Islands, has joined its new private market service, TISE Private Markets.

Building on TISE's well-established public market for bonds and equities, TISE Private Markets is an innovative, integrated service providing unlisted companies with tailored electronic trading, settlement and registry solutions.

Blue Diamond Limited becomes the first company to join TISE Private Markets.

Cees Vermaas, CEO of TISE, said: "I am extremely pleased to welcome Blue Diamond as the first client of TISE Private Markets. Having launched this service very recently, it is extremely rewarding to onboard our first client and I am delighted that it is Blue Diamond. The company is a well-known Channel Islands success story that has the right profile to join a public market so we are proud that instead they chose to support us in the development of this service and become the first company to join TISE Private Markets."

Blue Diamond was originally founded in Guernsey in 1904 as the Fruit Export Company. Today, it remains a locally owned and managed company with its headquarters at Le Friquet Garden Centre, operating 44 garden centres across the UK and the Channel Islands, with more than 4,000 employees and annual revenues approaching £350 million. The company has over 420 private shareholders, with 75% based in Guernsey, and new investors regularly becoming shareholders.

Richard Hemans, Group Finance Director and Company Secretary of Blue Diamond Limited, said: "We are delighted to be the first company to join TISE Private Markets. This service provides a fantastic solution for private companies, like Blue Diamond, whose shareholders want a better way to trade their shares but without the cost, regulatory burden, and loss of control that a public listing entails. We believe that using the bespoke auction trading model and wider functionality of TISE Private Markets will support liquidity, enhance price discovery and make share trading more transparent for sellers and buyers, and therefore ensure that the share price better reflects the company's underlying fundamentals."

Having joined TISE Private Markets, Blue Diamond has full control of their dedicated market, from onboarding shareholders to scheduling auction events and managing registers.

For more information about TISE Private Markets visit www.tiseprivatemarkets.com

SOURCE The International Stock Exchange (TISE)