Irish Stock Exchange to launch new market

The Irish Stock Exchange is to launch its new market, the Irish Enterprise Exchange (IEX), on April 12. IEX is a new market especially designed for small to mid-sized companies.

The Exchange has invited all companies currently quoted on the Exploration Securities Market (ESM) and the Developing Companies Market (DCM) to transfer to IEX from the opening of trading on April 12. On this basis, IEX expects to have an initial base of eight companies. Both the ESM and DCM will cease to exist from the launch of IEX.

Through this new market, the Exchange intends to attract small to mid-sized Irish companies that are considering a public floatation, particularly companies seeking admission to both IEX and AIM in the UK.

Chief Executive of the Irish Stock Exchange Tom Healy said: "IEX is designed specifically to meet the needs of small to mid-sized Irish companies seeking to access public markets. During our preparations for this new market we’ve engaged in detailed consultation with a wide range of market participants, and there is a clear consensus in support of the formula we are introducing.

"The new market will allow companies to enjoy all the benefits of a home market quotation, while at the same time creating a streamlined admission process for those companies who might choose a joint quotation on IEX and AIM."