Consumers not put off by the last Eircom shares debacle can opt to invest in the telecoms company a second time around - but only if they have €40,000 to spare and move quickly.

The minimum investment threshold means the Eircom flotation is not a normal initial public offering (IPO). It effectively excludes many of the amateur investors who lost out the first time.

Mr Eamonn Glancy, head of private clients at Goodbody Stockbrokers, said the timeframe for buying shares was "very tight".

Pricing is expected to take place on March 18th, with conditional dealings expected to begin on March 19th, 2004.

"You're effectively talking about two weeks. The applications forms won't be ready until March 9th, so people will receive them by the 12th or 13th," he said. "You will probably need to return it to us almost immediately to get it to us by March 15th."

March 17th is a public holiday, which means stockbrokers participating in the flotation will probably have to process applications, place orders on behalf of clients and lodge money by close of business on March 16th.

Despite the complications, brokers are expecting significant interest. "There will be a lot of publicity around the flotation of Eircom; for obvious reasons, it's a public story," Mr Glancy said.

The prospective yield of 6.8 per cent for the first year will attract investors, some of who may borrow from the banks in order to buy the shares.