Amarin makes IEX debut
The company specialises in the research, development and commercialisation of drugs for central nervous system disorders and started life as an offshoot of Elan.
Amarin began trading in Dublin, yesterday, at a price of €2.02 — a starting point largely influenced by its current trading levels on the Nasdaq. The company, which has also listed on London’s Alternative Investment Market (AIM), is the first firm with a primary listing on the Nasdaq to seek an additional listing on the IEX. It also brings to 18 the number of companies listed on the IEX since its inception in April last year.
“This highlights the advantages that listing on IEX offers companies — including enhanced profile and visibility in European markets and access to European capital through a euro denominated quote and trading facility,” said Daryl Byrne, head of corporate listing at the ISE.
Amarin is not looking to seek any additional capital as part of its new listings. It is already funded with $33 million (€25.8 million) in cash as of the end of the first quarter of the year. Irish investors include Ryanair founder, Tony Ryan, who began investing in the company last year and put in another $2 million (€1.5 million), earlier this year.
