Bahamas First makes BISX trading debut

Bahamas First makes BISX trading debut
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NASSAU, BAHAMAS — Bahamas First, the property and casualty insurer will begin trading on the Bahamas International Securities Exchange (BISX) today.

BISX has announced that the listing application submitted by Bahamas First Holdings Limited (“Bahamas First”) has been formally approved by the BISX Listing Committee. As a result, Bahamas First has been added to the official roster of companies listed on the Exchange.

Alison Treco, Chair of the Board of Bahamas First, said, “Our listing on BISX has been a consideration for several years and has now become a significant milestone for us as we begin our next phase of growth and development as a publicly traded and listed company. While we do not intend to issue any additional shares at this time, we believe that this move will facilitate an open trading platform that will provide increased liquidity for our existing shareholders while enhancing Bahamas First’s visibility in the capital markets.”

Patrick Ward, Group President and CEO of Bahamas First said, “Despite the recent turmoil and disruption created by Hurricane Dorian and the global COVID- 19 pandemic, we believe that the benefits of this listing outweigh any concerns around the current level of uncertainty in our operating environment.”

BISX Chief Executive Officer, Keith Davies added: “I’d like to congratulate Bahamas First Limited for listing their Ordinary Shares, their Preference Shares and their Corporate Bonds on the Exchange all at once. The Listing process for Bahamas First was unique in that the entire process took place remotely due to the social distancing measures put in place due to the COVID- 19 pandemic. This was a unique listing process given those circumstances, but Bahamas First and BISX were able to communicate effectively and complete the process. We believe that Bahamas First made the wise decision to move its securities to the regulated BISX market and we look forward to a truly beneficial continued relationship with Bahamas First.”