Mincon lists on Irish Stock Exchange

Shannon-based engineering company raises €50 million for international expansion

Shannon-based Mincon Engineering, which floated on the Irish Stock Exchange today, won an award in 2010 for designing and manufacturing the drill that secured access to the 33 Chilean miners.

Shannon-based Mincon Engineering, which floated on the Irish Stock Exchange today, won an award in 2010 for designing and manufacturing the drill that secured access to the 33 Chilean miners.

Tue, Nov 26, 2013, 15:27

Irish engineering firm Mincon has listed on the Irish Stock Exchange, raising €50 million as part of the floatation.

The Shannon-based firm, founded by Patrick and Mary Purcell in 1977, manufactures and exports hammers and drill bits used mainly in the multinational mining and resource industries

Mincon raised €50 million as part of its flotation and joins the ESM of the Irish Stock Exchange with a market capitalisation of €180 million.

“Floating on a public market is a significant milestone for Mincon. By listing on the Irish Stock Exchange, Mincon will be able to source international capital to fund the next phase of its expansion,” chief executive Kevin Barry said.

ISE chief Deirdre Somers said the listing demonstrates that the ISE is a place for established and emerging Irish companies to scale their business.

Mincon attracted a share of coverage internationally three years ago when its equipment was used in the dramatic rescue of a group of trapped miners in Chile.