Since the 1990s the Cayman Islands was one of only a handful of jurisdictions approved for a listing on the Hong Kong Stock Exchange. In 2009 33 per cent of all companies listed on Hong Kong’s Main Board were incorporated in Cayman, and 56 per cent of the companies listed on the Hong Kong GEM were Cayman Islands companies.
This trend continued in 2010 with the majority of new listings being Cayman based. However, Hong Kong just as other Asian markets are opening their access to other jurisdictions and it will be interesting to see how many companies registered in Jersey, the Isle of Man and most importantly the British Virgin Islands will be listed on the Hong Kong Stock Exchange in the near and medium term.
Another market that recently opened up to foreign listings, the Taiwan Stock Exchange, is also very popular with Cayman registered companies. The vast majority of the companies listed in Taiwan are Cayman based. The latest addition MStar Semiconductor, Inc., a Taiwan-based integrated circuit designer was slated to list in December.
In Singapore 7.6 per cent of the foreign companies listed are based in Cayman, lagging behind 42 per cent of foreign listed companies registered in Bermuda.
Cayman companies also remain comparatively popular at the main stock exchanges in the US and the UK. Cayman registered firms represent 22.3 per cent of all foreign companies listed on NASDAQ, 7.3 on the London Stock Exchange and 1.6 per cent on the New York Stock Exchange.
Source: Stock Exchanges