ONE MORE THING:Expect the Irish Stock Exchange to become more vocal about its importance to the wider economy and the risk posed by companies exiting the market.
Just a few months back, it hosted a seminar with Enterprise Ireland to encourage more start-up, fast-growth companies, to consider IPOs as part of their growth strategies.
You might wonder why it has taken so long. While the exchange is a leader in the listing of investment funds and debt securities, its equity market is in decline, with the likes of Greencore and United Drug quitting Dublin. The exchange has now decided to tender for a research study to capture its importance here.
Among other things, this will set out to determine the range and value of the Irish securities industry and to establish its multiplier effect on the economy.
* The Government’s recent decision to award a small mandate to Citigroup to advise on its stake in Aer Lingus renews an old acquaintance with London-based Irish corporate financier Basil Geoghegan.
He led the Goldman Sachs team that advised on Aer Lingus’s IPO and its defence against the first two Ryanair bids.
* Sticking with aviation, British Airways will turn up the heat on Aer Lingus next summer by adding three flights a day on its Dublin-Heathrow service.
One wonders if this is a recognition by BA that Ryanair’s bid for Aer Lingus is likely to fail. BA struck a deal with Michael O’Leary to take over Aer Lingus’s Heathrow slots if Ryanair’s takeover was successful and it was one of the key concessions offered to the European Commission to approve the deal.
