The Bahamas International Securities Exchange (BISX) has announced that Freeport Concrete Limited, which recently competed its initial public offering of 4,500,000 common shares, has been approved for listing on BISX. Trading in the securities of the company is scheduled to commence on Wednesday 16th May.
“We are very excited about being the newest addition to a growing capital market”, said Ken Hutton, President & CEO of Freeport Concrete. “We are particularly pleased that BISX has been and remains very receptive to the needs of not only the companies that list on the exchange, but the wider investing public. We see a great future for BISX and Freeport Concrete Company.”
Gerry Ritchie, Chief Executive Officer, comments “BISX is very pleased to welcome Freeport Concrete as the seventeenth Bahamian issuer to have its securities listed and traded on the Exchange. It is particularly encouraging to welcome a further Freeport-based business to the market, and one from an industry which plays such an important role in the development of Grand Bahama.”
The BISX domestic equity market catering for the trading in Bahamian public companies was launched on 12 May, 2000 with two broker-dealer members of the Exchange and 9 listed companies participating.
17 Bahamian issuers are now listed on the domestic market representing a market capitalisation of over US$1.8 billon. With this new listing BISX facilitates the trading of over 90% of the public trading of securities in The Bahamas. The market averages over 250 trades a month. Daily prices are posted on BISX’s website (www.bisxbahamas.com) and in the local newspapers.
For further details contact:
Freeport Concrete Company
Suite 8, 1st Commercial Centre
PO Box F-42647
Freeport, Grand Bahama
Tel: + 242-351-4667
Fax: + 242-351-4670
The Bahamas International Securities Exchange
404 East Bay Street
P.O. Box EE-15672
Tel: + 242 323 2330
Fax: + 242 323 2320