Fintech PR
TISE announces record turnover, profit & EPS for H1 2024
ST PETER PORT, Guernsey, Sept. 10, 2024 /PRNewswire/ —
Headlines
- Record turnover of £6.4 million – up 22.4% year on year
- Profit increased 28.4% year on year to a new high of £3.0 million
- Earnings per share increased to 107.0p; total of £7.0 million returned to shareholders in H1 2024
- 444 new listings contributed to overall public market growth of 5.6% year on year
- Delivery of private markets service to first client, with pipeline of further business
The International Stock Exchange (TISE) has reported record turnover, profit and earnings per share for the first half of 2024.
The International Stock Exchange Group Limited (the Group) has released its latest Interim Report which shows revenues up 22.4% year on year to a new high of £6.4 million, post-tax profit increased 28.4% year on year to £3.0 million, and earnings per share increased to 107.0p during the six-month period ended 30 June, 2024.
Earlier this year, the Group paid a special dividend of £2.00 per share and an ordinary dividend of 45.0p per share, which represented a return of approximately £7.0 million surplus cash to shareholders.
Anderson Whamond, Chair of the Group, said: “I am pleased to report record turnover, profit and earnings per share for the first half of 2024, reflecting the Group’s strengths as a leading European bond market as well as the improved macroeconomic conditions. The Group remains highly cash generative, supporting the payment of two special dividends during the past four years alongside twice-yearly ordinary dividends. Transformed from a local stock and bond market, today TISE is an established operator of public markets with an enlarged portfolio of financial markets and securities services for both public and private companies that positions the Group well for long-term growth.”
There were 444 newly listed securities on TISE during the first half of 2024, which represented an 18.4% increase year on year. This contributed to the total number of listed securities on TISE’s Official List to 4,371 at 30 June 2024, which is a 5.6% increase year on year and the highest total since the Exchange opened for business in 1998.
Across TISE’s leading European professional bond market, the Qualified Investor Bond Market (QIBM), there were 436 newly listed debt securities during the opening six months of 2024, which was ahead of the 369 listed during the equivalent period in 2023. TISE maintained its market leader position in products like private equity debt securities and high yield bonds while continuing to grow its status as a listing venue for securitisations.
Within its equity market, TISE has consolidated its position as the second largest venue for listed UK Real Estate Investment Trusts (REITs). With four new UK REITs listed on TISE during the first half of 2024, double the number listed during the equivalent period in 2023, the total number of UK REITs listed on TISE reached 45 at 30 June 2024.
During the period, TISE continued to deliver its private markets service to the first client company, Blue Diamond Limited, as well as developing a pipeline of other prospective clients. The number of private companies in the UK that have more than 100 employees has grown by 3,096 over the last decade to nearly 19,150, while the number of listed companies has reduced by 271 during the same period. TISE Private Markets gives unlisted companies a more efficient way to trade their shares by providing access to a set of integrated electronic auction trading, settlement and registry management solutions.
Cees Vermaas, CEO of the Group, said: “The progress we have made in executing our strategy has been demonstrated by the sustained growth we have achieved through changing market conditions. We continue to deliver strong financial and operational performance both during the subdued market conditions of recent years and during the first half of 2024, with the return of a brighter economic picture. Our investment into an increasingly scalable and diversified business model means that we are in an excellent position to make the most of the opportunities available to us across both public and private markets.”
A copy of the Group’s Interim Report for the six months ended 30 June 2024 is available here.
View original content:https://www.prnewswire.co.uk/news-releases/tise-announces-record-turnover-profit–eps-for-h1-2024-302243687.html
LIMASSOL, Cyprus, Sept. 20, 2024 /PRNewswire/ — Ultima Markets, a leading global forex and CFDs brokerage, is thrilled to announce its double success at the prestigious Global Forex Awards – Retail 2024. The company won two distinguished awards: “Best Affiliates Brokerage – Global” and “Best Fund Safety – Global.”
The awards were presented during the event in Limassol, Cyprus, where Jean Philippe, Board Advisor, Corporate Governance and Sustainability at Ultima Markets, accepted the honours.
The Global Forex Awards – Retail has celebrated excellence in trading innovation for seven consecutive years. Ultima Markets’ dual wins reflect its commitment to quality, client-centric strategies, and strong partnerships across the financial services sector.
The “Best Affiliates Brokerage—Global” award recognises Ultima Markets’ exemplary affiliate programme, which has successfully driven its global expansion. It is celebrated for its transparency and competitive rewards tailored to affiliate needs.
Receiving the “Best Fund Safety – Global” award highlights Ultima Markets’ efforts to safeguard client assets. Through its partnership with Willis Towers Watson, the company provides up to USD$1,000,000 in insurance per account, while its Financial Commission membership ensures clients access to up to €20,000 in compensation funds.
These recognitions underscore Ultima Markets’ priority to security and transparency, including segregated accounts and robust risk management practices. The broker also assures affiliate partners of exceptional standards.
Commenting on the awards, Jean Philippe said, “These recognitions reflect the exceptional work of our teams to ensure the safety of traders’ funds and our dedication to creating value for our partners and clients. We will continue to evolve and innovate to meet the market’s demands.”
Ultima Markets is renowned for its extensive range of trading products and personalised customer service, designed to meet clients’ diverse needs worldwide. The dual recognition marks a significant milestone in the company’s global growth and reaffirms its reputation for delivering fund safety and robust affiliate opportunities.
“We are delighted to be recognised with these awards, which reflect our mission to create a secure trading environment and build strong, rewarding partnerships,” said Jack Li, Ultima Markets’ Regional Business Director.
About Ultima Markets
Ultima Markets is a fully licensed, fast-growing broker offering access to 250+ financial instruments. With a team of 2,000+ professionals in 15 global offices, we serve clients in 172 countries. Check out more about our awards on Facebook, X, Instagram, LinkedIn and YouTube.
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View original content:https://www.prnewswire.co.uk/news-releases/ultima-markets-wins-two-prestigious-awards-at-global-forex-awardsretail-2024-302253644.html
Fintech PR
EQT to acquire Indostar Home Finance, an Indian affordable housing finance company, for INR 17.5 billion (USD 210 million) and invest INR 5 billion to support further growth
STOCKHOLM, Sept. 19, 2024 /PRNewswire/ —
- Indostar Home Finance is a fast-growing affordable housing finance company with INR 24 billion (USD 286 million) in assets under management, that has supported over 39,000 low income homeowners and small businesses
- India’s INR 30 trillion housing finance market presents a multi-decade growth story driven by strong government support, rising affordability and urbanization
- EQT will invest INR 5 billion in primary capital to support Indostar Home’s continued growth, including by broadening its footprint across India and investing in digital capabilities
EQT is pleased to announce that the BPEA Mid-Market Growth Partnership (or “the MMG fund”) has agreed to acquire a 100% stake in Indostar Home Finance (or “the Company”), a wholly owned subsidiary of Indostar Capital Finance Limited, for INR 17.5 billion (USD 210 million).
Founded in 2017, Indostar Home Finance provides affordable mortgages to retail customers in tier 2 to tier 4 cities in India and has supported over 39,000 low income homeowners and small businesses. The Company has rapidly scaled to more than INR 24 billion in assets under management, achieving a 32 percent compounded annual growth in the last three years. Indostar Home Finance has a network of more than 130 branches spread across nine states and employs over 1,000 people.
The Indian housing finance market currently stands at more than INR 30 trillion, according to the CRISIL. The segment has recorded strong growth driven by government support, rising affordability, and urbanization. However, there remains a significant shortage of housing in the country, with India’s mortgage to GDP ratio at 12.3% compared to more than 60% for developed countries like the USA and UK.
The MMG fund will invest INR 5 billion of primary capital in Indostar Home Finance to support its next phase of growth. EQT aims to expand the Company’s geographic footprint and accelerate its digital transformation journey by leveraging EQT’s in-house digitalization expertise, network of seasoned industry advisors, and expertise in go-to-market strategies.
Ashish Agrawal, Partner in the EQT Private Capital Asia advisory team, said: “Retail lending is a key investment theme for EQT within financial services in India. Building on our investment in the education finance sector through HDFC Credila last year, we are thrilled to welcome Indostar Home Finance to our portfolio. India’s affordable housing finance sector represents a long-term growth opportunity supported by secular demand drivers, favorable government policies and resilient asset quality across economic cycles”
Hemant Sharma, Managing Director in the EQT Private Capital Asia advisory team, said: “Indostar Home Finance has established itself as a leading player in this segment and is well-positioned for continued growth. We are impressed by its market-leading position in South India and strong underwriting capabilities. We see significant potential to expand Indostar’s presence across India and drive its digital transformation. EQT looks forward to supporting the company in its next phase of growth.”
Mr. Shreejit Menon, CEO of Indostar Home Finance, said: “This transaction marks a key milestone for Indostar Home Finance. We are excited to embark on this new journey with EQT, who shares our vision and whose partnership will significantly help advance our mission of delivering affordable housing finance solutions across India. With EQT’s support and global expertise, we are well-positioned for accelerated growth and success.”
The transaction is subject to customary regulatory approvals.
Contact
EQT Press Office, [email protected]
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LYON, France, Sept. 19, 2024 /PRNewswire/ — After an intense week of competition, the 47th WorldSkills Competition has officially wrapped up, marking the end of a thrilling journey for 1,400 young professionals from around the globe. For four days, participants representing nearly 70 countries and regions competed fiercely in 59 diverse skill areas, transforming Lyon’s Eurexpo into a vibrant hub of craftsmanship and international talent.
From day one, the atmosphere was charged with energy as competitors showcased their expertise in sectors ranging from Manufacturing and Engineering to Fashion, Digital Technology, and Healthcare. The level of dedication and precision demonstrated throughout the week was a testament to the profound commitment these young professionals have to their trades, as well as their determination to showcase their nation’s worth on the global stage.
Last night, the closing ceremony of WorldSkills Lyon 2024, held at Groupama Stadium, brought the event to an emotional close with the announcement of medalists in each skill category. Four medals were awarded in each skill: Gold Medal, Silver Medal, Bronze Medal, and the Medallion for Excellence. This ceremony underscored the core belief of the WorldSkills movement: excellence is found in diversity – diversity of profiles, backgrounds, expertise, and techniques.
The list of medalists is now available. Visit https://worldskills.org/what/competitions/worldskills-lyon-2024/#results to discover the winners!
What’s next?
The impact of WorldSkills Lyon 2024 extends far beyond the event itself. As the competition unfolded, and millions of people followed it in person or through media, WorldSkills Lyon 2024 spotlighted the crucial role of vocational education in today’s world and in shaping our shared future. By celebrating excellence, the competition highlighted the incredible ability of youth to drive the change our world needs through their energy and dedication. The legacy of this event lies in every vocation it has sparked and every future career it has inspired. This 47th edition has once again shown the world that where there is skill, there is a way.
Media Contacts:
Alice Nahon
PR Officer
[email protected]
Anne-Laure TRONC
Press Relation Manager
[email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/worldskills-lyon-2024-talented-winners-long-lasting-legacy-302253405.html
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