Irish Stock Exchange sees steady growth in 2014

Three companies raised a total of €484m on the Irish Stock Exchange last year, as equity transactions increased by 30% over the year as the economy continues to recover.

The Iseq Overall Index grew 15% last year, following a 34% gain the previous year, according to its annual review.

The Iseq breached the 10,000 barrier for the first time ever in February 2007 before plunging to below 2,000 in 2009 as the economy and financial sector both crashed. The index is now back up above 5,000.

The ISE is growing at a robust rate despite growing pressure from increased consolidation in the financial services sector. Equity transactions grew by 30% last year on the back of 42% growth in 2013.

Over the past few years, some of the biggest firms listed on the ISE, including C&C, UDG Healthcare, and Greencore, moved their listings to London to take advantage of a more liquid market.

However, last year three firms — Dalata, which raised €285m; Irish Residential Properties REIT, which raised €200m; and Mainstay Medical, which raised €18m — all had initial public offerings on the ISE.

“This was a landmark year for the Irish Stock Exchange,” said ISE chief executive Deirdre Somers.

“We added over 7,000 new debt listings and 1,600 new fund classes during 2014, finishing the year with more than 32,000 securities, representing over 4,500 issuers located in 85 countries. Transactions in the Irish equity market grew by 30% in 2014, to a record high 4.5m trades for the year, maintaining the ISE’s position as the dominant pool of liquidity for Irish equities.”

Moreover, a report by Indecon economic consultants released last year found that having a local stock market and securities industry directly supports 2,100 jobs in Ireland and is worth €207m each year to the Irish economy.

Other highlights for last year include its new programme to support entrepreneurs and companies preparing for a stock market listing — #IPOready.