The Tribune

Cable Bahamas has listed $114.5 million worth of preference shares on the Bahamas International Securities Exchange (BISX).

Its Series 6 preference shares will be listed under the symbol CAB6, while the Series 8 preference shares will be listed under the symbol CAB8

These securities become its fourth and fifth preference share listings respectively. CAB8 has the added distinction of becoming the first US dollar security to be listed and traded on BISX.

However, only investors with Central Bank of the Bahamas Exchange Control Approval will be eligible to trade this security. Other than the fact that the security is denominated in US dollars, CAB8 will trade over the exchange under the same rules as every other listed security.

Barry Williams, Cable Bahamas’ senior vice-president of finance, said: “This is a step in the right direction and will provide access to all market participants to take advantage of trading in our securities.

“I believe our preferred shareholders are also very pleased to have the trading opportunities that BISX provides as it will likely boost liquidity in these shares”.

Keith Davies, BISX’s chief executive, said: “I would like to congratulate Cable Bahamas for continuing to support the development and expansion of the BISX market through the listing of their two preference shares.

“Not only have they expanded the market with these two listings, but they are listing the first US dollar security available for trading on the exchange, which is another milestone in the history of the exchange.

“Cable Bahamas has been listed and traded on the exchange since our first trading day, back on 11 May, 2000, and we look forward to their continued involvement in the market as their company continues to grow and expand.”