An issuer is the legal entity—typically a corporation, government, or other organization—that develops, registers, and sells securities to finance its operations.
Types of Issuers
Corporate Issuers
Public and private companies that issue equity (shares) and debt (bonds) to raise capital.
Government Issuers
National, regional, or local governments that issue bonds and other debt instruments.
Special Purpose Entities
Organizations created specifically to issue securities backed by specific assets or revenue streams.
Responsibilities
Issuers have several key obligations:
- Regulatory compliance: Filing required documents with regulatory bodies
- Disclosure: Providing timely and accurate information via RNS announcements
- Corporate governance: Maintaining proper oversight and shareholder relations
- Financial reporting: Publishing periodic financial statements
Distinction from Company
While often used interchangeably, "issuer" specifically refers to the legal entity in the context of securities issuance, whereas "company" is a more general term. A single company may have multiple issuing entities in different jurisdictions.