Dalata shares begin trading on main markets
HOTELIER Dalata, the country's biggest hotel chain, has begun trading its shares on the main index of both the Irish and London Stock Exchanges.
In a note to the stock exchange yesterday morning, Dalata said dealing on the main markets began at 8am yesterday and dealings on the Alternative Investment Market in London and the Enterprise Securities Market in Ireland would cease immediately.
The junior market on the Irish Stock Exchange and the AIM in London is traditionally used by smaller companies, and Dalata announced last month that it would be switching.
The Company is not raising any funds or issuing any new Ordinary Shares in connection with admission.
Dalata had said the move was the best option to take for the company's future development.
Aileen O'Donoghue, ISE director of strategy, said Dalata had successfully used the Enterprise Securities Market as a platform to raise over €475m from Irish and international investors.
"The business has scaled up significantly and we are delighted that Dalata has decided to join the Main Securities Market which will further enhance their ability to attract investors," Ms O'Donoghue said.
"We are looking forward to continuing our strong relationship with the company and we wish them every continued success in the future."