Dalata plans move to main Dublin and London exchanges

Dalata, Ireland's largest hotel operator, plans to move to the main stock markets in Dublin and London from the junior exchanges.

The company, which raised €256 million in equity in an initial public offering in 2014, said its board believes that a primary listing on both exchanges “is the most appropriate platform for the company’s future development.”

Chief executive Pat McCann said: “Our listings on AIM and ESM have served us well in accessing capital markets to develop our strategy to grow our portfolio of owned and leased hotels at an opportune time.”

However, he said that moving to the main markets will help improve Dalata’s profile and broaden its investor base.