Merrion Pharmaceuticals begin IEX trading

Shares in Merrion Pharmaceuticals began trading today on IEX, the Irish Stock Exchange’s specialist market for small and medium-sized companies.

Merrion is raising €8m (gross) in new equity and will have a starting market capitalisation of €67.16 m based on the issue price of €4.05 per share. Merrion is the first company to seek an IEX only listing and brings the number of companies on IEX to 30.

Irish Stock Exchange Chief Executive Deirdre Somers said: “Merrion Pharmaceuticals’ decision to list its shares on IEX shows once again that this market is filling a need for Irish growth companies who want a euro-denominated trading facility for their shares.”

Ms Somers added that the IEX market has shown that it is a valuable source of funding for small and medium-sized Irish companies.

"The €8m raised by Merrion is the latest in a number of substantial fundraisings on IEX by Irish companies and follows the €100m raised earlier this year by Origin Enterprises, the €50m raised by TVC Holdings and the €25m raised by Boundary Capital," she said.