Trintech brothers gain another 10%

The personal fortunes of Trintech founders, brothers John McGuire and Cyril McGuire, soared by another 10 per cent on the Frankfurt…

The personal fortunes of Trintech founders, brothers John McGuire and Cyril McGuire, soared by another 10 per cent on the Frankfurt Neuer Markt yesterday and by the close their combined stake in the e-commerce software group had reached £450 million (€571 million). This increases the value of their Trintech shareholding by almost 30 per cent since the company's link-up with Motorola was announced on Wednesday.

Trading on both the Neuer and Nasdaq markets was relatively light, but in Frankfurt the bid interest in the share was sufficient to drive the shares up more than €8 (£6.30) to a close of €85, after they had peaked in earlier trading at €88.80.

When trading opened on Nasdaq, the pattern was much the same and the shares soared to a high of $87 (€88) before profit-taking brought them back towards $80 by midday in New York. At the close on Nasdaq, Trintech shares were on $82.50 a rise of $12.50 on the day.