Wednesday 26 July 2017

Hotelier Dalata to move stock exchange listing

Pat McCann of Dalata
Pat McCann of Dalata
Peter Flanagan

Peter Flanagan

Hotelier Dalata is to move its listing to the main index on the Irish Stock Exchange and the London Stock Exchange.

In a stock exchange announcement after markets closed today, the company said it intends “to move the listings of its entire issued share capital from the AIM market of the London Stock Exchange and the ESM market of the Irish Stock Exchange  to the primary listing segment of the Official List of the ISE and the standard listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities".

Up to now, Dalata shares have traded on the junior market on the Irish Stock Exchange and the AIM in London, which is traditionally used by smaller companies.

The company said it believes that it has “grown and matured over the last number of years and that the main market is the most appropriate platform for the company's future development”.

“Furthermore it is hoped that a listing on the main market will further boost Dalata's profile as well as potentially increasing the liquidity of trading in its securities enabling its ordinary shares to be acquired by a wider group of investors,” it added.

Company chief executive Pat McCann commented: " Given the considerable growth of the business both financially and operationally we believe that a listing on the Main Markets is the most appropriate platform for our future development. Through this move to the Official List we look forward to improving our profile and broadening our investor base further."

Dalata shares rose 2.48pc in Dublin, The shares are up 29pc in the last year.

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