Irish equity market transactions at record high

Over 7,000 new debt listings and 1,600 new fund classes were added last year

Three new initial public offerings (IPOs) raised a combined total of €484 million for companies listing on the ISE last year

Three new initial public offerings (IPOs) raised a combined total of €484 million for companies listing on the ISE last year

 

Transactions in the Irish equity market grew by 30 per cent last year to a record high 4.5 million trades, according to new figures published by the Irish Stock Exchange (ISE).

The exchange’s chief executive Deirdre Somers described 2014 as a landmark year for the ISE during which it continued to grow revenues and completed changes to its corporate structure that will facilitate future growth.

According to the ISE’s end-of-year review, the Iseq Overall Index recorded a 15 per cent gain in 2014, building on the 34 per cent increase recorded a year earlier.

Over 7,000 new debt listings and 1,600 new fund classes were added during the year, with the stock exchange finishing 2014 with more than 32,000 securities, representing some 4,5000 issuers in 85 countries. New debt listings issuers included the Republic of Kenya, Verizon, Debenhams, Kuwait Energy and Sky Television.

Three new initial public offerings (IPOs) raised a combined total of €484 million for companies listing on the ISE. Of these, hotel group Dalata raised €265 million in March, Irish Residential Properties REIT raised €200 million in April and Mainstay Medical raised €18 million in May.

During 2014, the ISE launched a new information portal for funds listed on the exchange. It also announced plans to launch the #IPOReady programme to support entrepreneurs and companies preparing for a stock market listing.

The ISE last year signed a Memorandum of Understanding with the Shanghai Stock Exchange to facilitate new international business and also cut clearing fees by half to stimulate growth in the Irish equity market.

The exchange began an extensive recruitment late in the year aimed at increasing staff numbers by 10 per cent to manage projected strong growth in new business volumes.

“The ISE’s successful transition into a public limited company during 2014 reflects the ambitious, diverse international business the ISE has become. Our new structure will complement our strategy of becoming the number one EU exchange for global fixed income, funds and Irish securities by 2019,” said Ms Somers.

According to a recent Indecon report, having a local stock market and securities industry directly supports 2,100 jobs in Ireland and is worth €207 million per annum to the Irish economy.