Despite the jitters in international markets there is no shortage of candidates to seek a listing in the Irish market. First among the newcomers will be First National Building Society. It has now cleared the final regulatory hurdle in its drive to become a publicly-quoted company and the flotation is expected to go ahead in October. It will shortly be issuing its prospectus. Some 220,000 members of the society will qualify for free shares when it is floated.

Telecom Eireann is also heading towards a listing on the Irish stock market in a partial flotation, with investors expected to be able to subscribe for 15 per cent of the shares. Aer Rianta may also follow the same route next year. The company is currently considering its options at the request of the Government and the picture will be clearer in the next six months. Aer Rianta could be worth between £700 million and £800 million if floated on the stock market.