Wednesday 18 October 2017

Engineering firm Mincon to IPO on Irish stock exchange

Mincon specialises in rock drilling tools and products
Mincon specialises in rock drilling tools and products
Ailish O'Hora

Ailish O'Hora

Rock drilling engineering firm Mincon is to float on the Irish Stock Exchange.

The company specialises in the design, manufacture, sales and servicing of rock drilling tools and associated products.

Mincon, which is headquartered in Shannon, intends to raise €50m from the initial public offering to fund acquisitions.

The company had revenues for year to end December 2012 of €63.1m, up 53pc on the previous year and pre-tax profits of €13.2m in the same period -  up 17pc on 2011.

Mincon has just over 500 customers in 60 countries.

It will list on Ireland's ESM market and AIM in London.

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