Eircom to join markets at €1.55

Eircom is expected to join the Dublin and London stock markets today at a price of €1.55 per share after the board gave it a market capitalisation of €1.1bn last night.

A report in the Irish Times quotes market sources saying that the company had attracted a high degree of interest with demand twice as much as supply. The €1.55 price tag was at the lower end of a range suggested by the company.