Sandpiper goes public

Monday 03 June 2019

The island's largest retail group has listed and started trading on the International Stock Exchange, valued at £75million.

As part of the TISE listing, SandpiperCI issued 25.1million shares at a price of £0.75 per share.

The multi-brand business, which trades with 14 franchise partners, now has 100,000,000 in issue.

Pictured: SandpiperCI has responsibility for Liberty Wharf in Jersey.

Sandpiper's CEO, Tony O'Neill said: "We are very pleased to have successfully listed on TISE and welcome all new shareholders to the Company. This listing is the culmination of strong performance over the last three years since the Company was taken into local ownership.

"The TISE listing raises our profile while, at the same time, enabling wider participation in the ownership of the Company and providing an ongoing market for the shares. We now have more than 120 new shareholders, the vast majority of whom are Channel Islands' residents, which is entirely appropriate for the largest retailer in the islands."

He continued: "The business is highly defensible, backed up with a high quality freehold property portfolio, including the Liberty Wharf retail complex in Jersey. We will continue to look for opportunities to expand our presence both in the islands and in other geographical territories where we can leverage our strong relationships with market leading franchise partners."

Pictured: TISE CEO Fiona Le Poidevin.

Fiona Le Poidevin, CEO of The International Stock Exchange Group (TISEG), added: “I am delighted to welcome Sandpiper to TISE and to our Channel Islands segment. 

“Sandpiper joins a growing cluster of Channel Islands headquartered companies which are listed on TISE… It is pleasing to see that there is growing awareness of the way in which listing on TISE provides a cost effective and convenient way to raise capital for the future development and growth of the business while also offering the opportunity for an even wider spread of ownership of the company.”