Dalata CEO urges high-growth companies to plan for IPO success
- Pat McCann speaking at launch event for Irish Stock Exchange support programme for next generation of IPO candidates
- ISE reports “very strong interest” from IPO candidate companies
Pat McCann, the Chief Executive of Dalata Hotel Group plc, which raised €265 million in an IPO (initial public offering) last year, has called on high-growth Irish companies to plan for a successful IPO as part of their long-term growth strategy.
Speaking at the launch of the #IPOready support programme for IPO candidate companies at the Irish Stock Exchange (ISE) today, Pat McCann said listing on the public markets has provided Dalata with access to investors and capital that has allowed it to flourish as a public limited company.
Mr McCann said the ISE’s new programme will be welcomed by entrepreneurs as it will provide IPO candidate companies with a structured support programme to equip them with crucial skills in capital raising, investor relations and business management.
“This initiative will provide effective, relevant support to companies that are considering an IPO,” said Mr McCann.
“It is a programme that I know would have been very useful when bringing Dalata to the market and I would recommend it to any growing company in its pre-IPO phase”.
Today’s launch, which took place on the trading floor of the Irish Stock Exchange, was attended by over 100 representatives from IPO candidate companies, investors, financial advisors and legal advisors.
Speakers included Aileen O’Donoghue, Director of Strategy at the ISE, and Julie Sinnamon, Chief Executive of Enterprise Ireland. The programme is aimed at companies that are on course for a stock market listing in the next 5 years.
Aileen O'Donoghue, Director of Strategy at the ISE, said:
“We are very pleased with the very strong level of interest so far from ambitious, IPO candidate companies who want to follow in the footsteps of Ireland’s biggest corporate success stories.
Eight new companies have listed successfully in the past two years and this programme is designed to support more Irish companies to become IPO ready.
Today’s event augurs well for our plans to build a strong pipeline of high-quality companies with the business and the skills to prosper on the public markets.”
The #IPOready programme, which is supported by Enterprise Ireland and Invest Northern Ireland, will provide extensive support over 15 months to prepare successful applicants for the requirements of listing on the ISE and attracting investment from domestic and international shareholders.
It will include lectures from corporate finance experts, investment practitioners and academics from DCU; coaching from mentors; and advice from senior ISE figures, entrepreneurs and leaders from Irish quoted companies.
#IPOready is open to high-potential companies with:
- A proven track record in a high-growth sector
- Annual revenues of at least €5m and heading to €10m
- Commitment from two senior executives (Chairman, CEO, CFO) to participate in the programme
The programme will give candidate companies:
- Detailed understanding of large-scale funding options
- Opportunities to network with other ambitious, fast-growing companies
- Access to a network of top advisors, investors, entrepreneurs, business coaches and academics with experience in growing companies to significant scale
- Support in achieving plans for future international growth
The programme commences in March 2015 and will be delivered in 3 phases over 15 months:
Phase 1 – Building core knowledge and skills
Phase 2 – Refining your business plan to make it IPO-ready
Phase 3 – Attracting investors, networking and accessing the equity markets
An application form is available from Orla O’Gorman, Head of Irish Market, firstname.lastname@example.org.
The closing date for applications is Friday, 20th February 2015; applications will be shortlisted by an expert committee, with successful candidates being announced at the end of February.