Irish Enterprise Exchange

Irish Enterprise Exchange

The Irish Enterprise Exchange (IEX) is a stock exchange that was launched on 12 April 2005 to replace the Irish Stock Exchange's Exploration Securities Market and Developing Companies' Market. It currently has a total of twenty-two listings and requirements for listing include a market capitalisation of €500m.

The market was started primarily to address the utter failure that was the Developing Companies Market (DCM). The DCM was created to emulate the vastly more successful AIM (Alternative Investment Market) but failed. The merger with the more successful Exploration Securities Market was envisaged to create a market of sufficient critical mass to attract micro-cap listings of Irish companies.

The second reason to offer this route to the Irish stock exchange listing, much less onerous than the official route, was to tempt many Irish companies, who had shunned the Irish Stock Exchange for the more attractive AIM. Companies such as Petroceltic and Petrel Resources, Irish companies, had decided to list in London rather than their indigenous Dublin as it was vastly cheaper.

This exchange has proved to be hugely successful. Newcourt, Irish Estates, AGI Therapeutics, Norkom, Lapp Plats, Abbey Homebuilders and Getmobile Europe (Formerly Fitzwilliam Capital PLC) varied and vibrant companies have come to the market and used it to finance an acquisition spree, like Newcourt and Irish Estates.

The exchange continues to attract listings to its market. AIM-listed Ardent Group PLC, a company that specialises in property equity-release products for pensioners listed on September 4th.

Recently, another company SiteServ also announced plans for listing. The construction services company is believed to be looking for a dual IEX/AIM listing this December.

Components

*AGI Therapeutics
*Abbey Homebuilders
*Getmobile Europe
*Norkom
*Newcourt
*Ormonde Mining
*Ovoca Gold
*Veris
*Petroneft Resources
*Petroceltic
*Calyx Group
*Ardent Group
*Amarin Corporation
*Blackrock International Land
*CPL Resources
*Donegal Creameries
*Glencar Mining
*Minmet Plc
*Lapp Plats
*Oakhill Group
*Providence Resources
*Thirdforce

The Future

The IEX has been a hugely successful innovation on the part of the Irish Stock Exchange Trust. This can be seen in the fact that at the opening of the Exchange, there were only 8 companies listed, now there are 22. It is because of this rapid growth and the variety of business admitted that the IEX can be assured of more success to come.

ee also

*Irish Stock Exchange (ISEQ)
*Internet Neutral Exchange (INEX)


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