Eircom flotation cost £76.9m

The process of floating Eircom cost the Department of Public Enterprise £76.9 million, approximately 2.3 per cent of the £3.3 billion raised. An amount of £9.2 million is due from the company as its contribution to the cost. The majority of the cost, £58.6 million, went to the global co-ordinators of the sale, AIB Capital Markets and Merrill Lynch. Advertising cost £3.8 million, public relations £3.4 million, printing £3.4 million and postal charges £3.3 million. Legal fees totalled £1.5 million.