To promote the Cayman Islands Stock Exchange’s (CSX) new listing rules written specifically for mineral companies, the CSX will be exhibiting at the Mines and Money conference in London 3 -4  December 2013.

The new Listing Rules for mineral companies are based on IOSCO international disclosure standards and offer a pragmatic solution for smaller companies at any stage of development looking to establish themselves in public markets, or enhance their marketability to specialist investors.  The CSX has already attracted debt and equity listings from mineral companies with African and American operations.

Working off its extensive experience of listing hedge funds and private equity vehicles, the CSX has developed rules which offer a clear alternative to the traditional IPO.  For example, companies targeting a limited number of sophisticated investors can list under a fast-track regime which provides a significantly reduced ‘free float’ of shares in exchange for enhanced risk disclosure.   The rules for production-stage mineral companies are based on the core requirement for an independent mineral expert report which can be based on any internationally recognised mineral reporting standard.  However for companies with high growth potential in the exploration stage, the CSX offers the possibility to list as start-up companies.  This shifts the burden of disclosure onto scrutiny of the business plan and operating projections with the possibility of avoiding the requirement for geological surveys and expert reports, provided sufficient evidence of title to or enforceability to any mineral assets, licenses or concessions.

With its well-established links to global capital markets, and situated close to the mineral rich countries of Latin and North America, the Cayman Islands offers an ideal platform for mineral companies looking to connect with investors, whether through a primary or secondary listing.

Nick Small, CSX Head of Listing, who will be attending the conference, is looking ahead to and beyond the conference.  “We have an interesting story to tell at this conference.  The CSX provides a solid proposition to mining companies looking to raise capital, whether that be through a traditional IPO or more specialist share offering to funds or other institutional investors.  Since the CSX launched on XETRA a listing on our exchange is a passport to trading on one of the world’s most respected trading platforms.  With our ‘can-do’ approach and package of well-balanced and pragmatic disclosure requirements we are offering a new alternative for the right kind of company.”

The CSX has a long history as a boutique exchange specialising in listing investment funds, debt issuances and insurance linked securities.  In March 2013 the CSX launched on XETRA®, Deutsche Boerse’s international cash market platform for trading equities, bonds, warrants, exchange traded funds and other instruments. XETRA is used by 14 exchanges around the world from Frankfurt to Shanghai. The XETRA FIX (Financial Information eXchange protocol) Gateway offers simple and flexible access to all XETRA markets and the inclusion of the CSX means its market can be easily accessed through the ‘XCAY’ portal for trading any CSX-listed securities, with zero trading fees and settlement on Clearstream Luxembourg.

The CSX looks forward to welcoming companies and advisers to its stand at the London conference.

Editor’s Notes

The Cayman Islands Stock Exchange (CSX) is a leading stock exchange for specialist companies and investors.   The CSX is an affiliate member of IOCSCO and the World Federation of Exchanges and is accredited by HM Revenue and Customs as a recognised stock exchange.  The CSX is the only offshore stock exchange to be a member of the Inter Market Surveillance Group.  The CSX has a listed market value of over US$165 billion.

Mines and Money London is a leading mining investment and capital raising conference and exhibition, bringing together over 3,000 investors, financiers, brokers and mining developers.