The Bahamas International Securities Exchange (BISX) is preparing to launch a junior stock market called the SAM (small alternative market), to accommodate businesses too small to list on the main exchange, along with crowdfunding for even smaller businesses to raise capital, BISX CEO Keith Davies explained yesterday.
Davies said these new products for BISX are designed to meet the needs of businesses of every size in The Bahamas in order to broaden the country’s capital markets.
While Davies said they hope to make these additions to BISX a reality, but he said they have yet to be approved by the Securities Commission of The Bahamas (SCB).
“The SAM market is designed to foster a dynamic environment for smaller scale and high-growth businesses that may not yet meet the requirements for the main exchange … but are larger than those accessing the crowdfunding 2.0 platform,” said Davies during the first annual Invest Fest Bahamas.
“This initiative will encourage greater participation, enhance liquidity and provide a stepping stone for businesses to grow within the financial landscape of The Bahamas.”
Davies also foreshadowed the launch of a private listing and trading facility as a new way for businesses to raise capital “while maintaining a level of privacy and flexibility”.
He said this facility has been approved by the SCB.
He explained that this product will allow BISX to cater to a diverse and new grouping of market participants.
With regard to crowdfunding 2.0, Davies said they expect this platform to build on the crowdfunding efforts they have had in development for a number of years.
“We will further democratize investment opportunities for Bahamians and support the growth of local enterprises,” he said.
“It will provide an accessible tech-forward, tech-first approach to empower small businesses and entrepreneurs to access funding in an efficient and innovative manner. This should be welcome news to the entrepreneurs in the audience.
“We’ve heard you. We see you, and we’re going to help you.”
Davies with these new features being added to BISX, Davies ensured that he exchange will follow the rules, and do what is required to ensure there is no abuse.
Source: bing.com
