Iona Technologies chief executive Dr Chris Horn has raised almost $2.5 million (€2.7 million) after selling shares in the company. Dr Horn sold 40,000 Iona shares this week at an average price of $62.19 to realise $2.49 million.

Dr Horn still holds almost 2.2 million Iona shares - nearly 10 per cent of the total - currently worth more than $130 million (€141 million).