FINSEC provides an automated platform for the issuance, listing, trading and settlement of equity instruments. These instruments can be issued and traded privately or through public platforms.
Listing by Introduction (LBI) allows a company to apply for listing without the conduct of an initial public offering (IPO) prior to the initial listing of the company’s securities on FINSEC. It applies to an application for listing of securities that are already issued or securities that will be issued upon listing, where no public offering will be undertaken.
When a company chooses to list by introduction, a pre-listing statement shall be published. This pre-listing statement is not an invitation to potential investors to subscribe for shares in the company, but is issued for the purposes of providing information to the public about the company. Investors will be able to buy shares in the secondary market trading of the company after the listing.
Listing by introduction on FINSEC helps to facilitate price discovery and market-value realisation, for Over-the-Counter traded and similar securities. Through market demand and supply forces together with an efficient information processing mechanism, buyers and sellers of securities listed on FINSEC are assured of transacting at fair prices.