The total number of listings on the Cayman Islands Stock Exchange stood at 1,263 on 29 January 2007, with a total market capitalisation of nearly US$113 billion.
Tabling the financial statements of the exchange for the year ended 30 June 2006, the last financial year, the Financial Secretary the Hon. Kenneth Jefferson told the House on Monday, 5 March, that the exchange continued to be self-supporting and making a profit. Debt and Eurobond listings on the exchange have also continued to increase.
Highlighting the major achievements, Mr. Jefferson noted that new issues listed numbered 164, taking the total to 1,071 for the year ended 30 June 2006. The total market capitalisation of these issues was US$90.61 billion, of which US$75.65 billion related to mutual funds.
One of the results of the recognition that the exchange received from the UK Inland Revenue in March 2004 was the continued and significant growth in debt securities during the last financial year.
The law firm of Mourant Cayman Limited became a listing agent during the financial year, bringing the total to 10 listing agents, seven broker members and 14 registered representatives, the Hon. Financial Secretary said.
The exchange's revenue rose to CI$1,363,416, surpassing forecasts and allowing it to maintain self-sufficiency, he outlined. With operating expenses at CI$982,679, the exchange earned a substantial net operating profit of CI$400,737. "As the Exchange continues to be self-supporting, there is no requirement for funding from Government," he added.
gt; Government s total equity as shareholder rose to CI$970,950 during the year, Mr. Jefferson said, adding that of the profit achieved, it is proposed to pay government CI$300,551 as a dividend.