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Deirdre Somers calls for 'mid-caps' support

Emmet Oliver Deputy Business Editor

Published 09/04/2010 | 05:00

The head of the Irish stock exchange has warned that smaller, less globalised companies are in danger of being neglected by European stock exchanges.

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Deirdre Somers, chief executive of the Irish Stock Exchange, said that more needed to be done for companies she described as "mid-caps".

While exchanges had become more globalised and the era of "national champions" was over, there was a danger that all the emphasis was on bigger, more liquid stocks, she said.

"How do we ensure that Europe identifies, supports, nurtures and celebrates its most viable small/mid-cap companies?'' she asked.

Ms Somers remarks were made during a speech delivered in Brussels to European policymakers and politicians.

Debate

She told the audience that the debate over the future of stock exchanges and which companies list on them was not wide enough.

She said mid-cap companies, if they weren't attracted on to exchanges, would opt instead for trade sales.

"International trade sales are the most obvious solution to deal with the competing pressures of an increasing funding gap and the venture capital/private equity desire to cash in," she said.

Irish Independent

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