ISE welcomes Government’s move to address IPO challenge

The ISE has today welcomed the recommendation in the Government’s Action Plan for Jobs to develop proposals to help Irish companies to grow and build scale through the IPO route to become the successful publicly-quoted companies of the future.

ISE Chief Executive Deirdre Somers said the new initiative will be an essential step in identifying the challenges facing mid-size companies and creating the next generation of heavyweight Irish publicly-quoted companies.

“Ireland needs more success stories such as Ryanair, Kerry Group and Paddy Power – high-quality, scalable businesses that can create jobs and help Ireland recover. This new initiative will help Ireland to address the IPO challenge,” said Ms Somers.

“Scale matters. Over 90% of employment growth in companies takes place post-IPO. We rightly applaud successful indigenous companies when they conclude a trade sale to a foreign buyer - but there is much more to be gained for the Irish economy if some of these companies can become leading publicly-quoted companies in their own right”.

Ms Somers, who has been calling for Government action on this issue for some time, said she looked forward to making a positive contribution to support the initiative.

“Until now, there has been a common view that almost every Irish high-potential company will be sold to a trade buyer – but that must change. There will be clear benefits to the Irish economy if we can implement specific measures that will support more Irish companies in their efforts to achieve scale.

“Markets go through cycles and they will rebound. We need to have Irish companies ready to benefit from this.”

Ms Somers said Enterprise Ireland has achieved great success in developing home-grown businesses and that its skills and expertise will be crucial in helping companies achieve scale in the years ahead.

"Ireland is one of the best countries in the world to start and develop a business and Enterprise Ireland deserves great credit for its efforts. We must build on this to create more companies that have scale and importance on a global stage. We would like Ireland to be one of the best countries in the world to grow a business. If we succeed, these companies will contribute to our economy for decades to come.”

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Ailish Byrne, Head of Public Affairs and Communications at the Irish Stock Exchange, Dublin

Ailish Byrne

+353 1 6174266

ailish.byrne@ise.ie