The Tribune

THE Bahamas International Stock Exchange (BISX) announced yesterday that Fidelity Bank (Bahamas) Limited had successfully completed the listing process for its Series A preference shares. In a statement by BISX yesterday it was stated that the shares are now listed on the Exchange under the symbol FBBA. Roster The shares have been added to the roster of securities listed on the Exchange and will trade through the BISX Automated Trading System (BATS). BISX is able to list the secondary issues of BISX listed companies with the Fidelity Bank (Bahamas) Limited Series A Preference Shares becoming the sixth securities to take advantage of this listing facility. Secondary Issues includes any securities issued by an already public company after their initial public offering. Anwer Sunderji, Chief Executive Of Fidelity Bank said: "The successful placement of $10 million of these securities positions the bank to continue on its asset growth trajectory, which has resulted in the bank's profitability rising sharply in recent months." He added, "We are delighted with the listing on BISX as it will hopefully provide liquidity and greater transparency for investors." Speaking about the FBBA listing, Keith Davies, the BISX Chief Executive Officer, stated: "Fidelity Bank (Bahamas) Limited has a long history with the Exchange, and we are happy to welcome this new issue from them. They were the first company to list debt on the Exchange and the listing of these Series A Preference Shares represents the sixth security that Fidelity Bank (Bahamas) Limited has listed with us, their having already listed their ordinary shares and four tranches of Medium Term Notes." Investors Mr Davies added: "The fact that Fidelity Bank (Bahamas) Limited has listed all of these secondary issues on the Exchange, we believe reflects the fact that they see the value that accrues to a securities' investors from a listing on BISX. Investors benefit from increased liquidity, transparency in pricing, and a centralised location for buyers and sellers. "We are pleased that Fidelity Bank and other responsible issuers continue to seek out a BISX listing for their securities."