| 15.8°C Dublin

Dalata boss urges firms to consider listing on ISE

Close

Pat McCann of Dalata.

Pat McCann of Dalata.

Pat McCann of Dalata.

High-growth Irish companies should consider a stock market flotation as part of their long-term strategic planning, Dalata chief executive Pat McCann has said.

The hotels group raised €265m in listing on the Irish Stock Exchange (ISE) last year, while Irish Residential Properties REIT raised €200m and Mainstay Medical raised €18m.

Mr McCann was speaking at the launch of an ISE support programme for companies considering a flotation.

The 15-month programme, supported by Enterprise Ireland and Invest Northern Ireland, is designed to provide mentoring and coaching to candidate companies to help them deal with the requirements of a float.

 

 

It will include lectures from corporate finance experts and advice from leading figures in listed companies.

"It is a programme that I know would have been very useful when bringing Dalata to the market and I would recommend it to any growing company in its pre-IPO phase," Mr McCann said.

The ISE is taking applications from interested companies until February 20.

"We are very pleased with the very strong level of interest so far from ambitious, IPO candidate companies who want to follow in the footsteps of Ireland's biggest corporate success stories," ISE strategy director Aileen O'Donoghue said.

"Eight new companies have listed successfully in the past two years," she added.

Eircom shelved plans for an IPO in September, saying it wanted to focus on accelerating signs of positive momentum in the business.

Eircom's chief executive Herb Hribar departed shortly thereafter and was replaced by the company's chief financial officer Richard Moat.

Irish Independent