Any lingering hope anyone had that details of the Bermuda Monetary Authority's investigation into Lines Overseas Management in 2004 2005 would ever become public knowledge faded when LOM settled a fraud complaint brought by the U. S. Securities and Exchange
The secondary listing of Bank of Bermuda shares on Nasdaq, effective April 23, has created arbitrage opportunities for traders.Between its U.S. listing debut and the end of April, the bank's stock closed at a higher price on Nasdaq than the BSX on day, once by as much as $1. Nasdaq volume was more than 12 times greater.
Shares of the parent company of Bermuda-based stockbroker Lines Overseas Management were listed for the first time on the Bermuda Stock Exchange on July 24.A statement that the shares had been approved for listing was made on July 20 without any prior public announcement that an application had been submitted.
The Bermuda Stock Exchange has approved the listing of up to 4.5 million voting common shares of the China Energy, Metal & Mining Fund - China Mining Sub Fund. The fund is incorporated in the Cayman Islands and is structured as a closed-ended umbrella fund. It is the latest in a long line of Cayman registered funds that have decided to list in Bermuda rather than their place of domicile.
The Bermuda Stock Exchange will next month launch an index and mutual fund that will track the performance of ten publicly-listed insurers and reinsurers based in Bermuda.
A rights offering carried out by the Bermuda Stock Exchange has raised nearly $2 million to pay for a new trading system and future expansion but was significantly under-subscribed, we can reveal.BSX chief executive officer William Woods would not comment on information we received from sources that the offering, which took place last August, was under-subscribed by as much as $700,000.
One of the most ambitious property developments in Bermuda's history that eventually turned into a four-year embarrassment for its sponsors has ended in typically ignominious fashion. Bermuda Financial Centre Limited was struck off from the Bermuda companies register on December 19 by the authorities and, three days later, the listing of its preference shares was cancelled by the Bermuda Stock Exchange.
Investors thinking of buying into high-tech firm NimsTec, which last month became the latest company to list on the Bermuda Stock Exchange, may want to look closely at the track record of its technology and its senior management before parting with their funds. Bermuda-based NimsTec, which manufactures and markets 3-D products, including cameras, has raised $3 million so far from investors in Bermuda, Kuwait, Saudi Arabia and Bahrain. Investors include Deloitte & Touche (Bermuda) partners Bill Jack and Roger Titterton, who have invested $40,000 between them. The company bears striking similarities to a company called Nimslo, which lost investors in the US, the UK and Bermuda tens of millions of dollars over the 1970s, 1980s and early 1990s with the same technology now owned by NimsTec.
NimsTec Limited, a hi-tech firm which produces 3-D cameras and printers for the medical and photographic industries, has begun listing its ordinary shares on the Bermuda Stock Exchange, where they will be traded in minimum blocks of $100,000.
A pool of money to help compensate investors who will lose out in the event of a trading member of the Bermuda Stock Exchange collapsing is likely to be in place by the end of the year, we have been told. To get the pool started, each trading member of the Exchange will be asked to contribute a one-off lump sum.
Briton William A. Woods has been cleared by immigration to become the first chief executive officer of the rapidly-developing Bermuda Stock Exchange. The Exchange has also announced that Greg Wojciechowski, until now the Exchange's sole employee, has been promoted from project manager to chief operating officer.
Jardine Matheson has given a massive boost to the Bermuda Stock Exchange by disclosing that it plans to list all five of its locally-registered holding companies on the BSE.
BF&M Ltd announced a ten per cent stock dividend to shareholders yesterday - only days after some of the largest volumes of trading in its shares for several months. A decision to reward long-suffering shareholders of BF&M Ltd, who have seen their capital investment drop from $10.50 per share in June, 1993, to $6.75 currently, was taken by BF&M's board of directors on December 20.