Press release – for immediate publication/broadcast
Merrion Pharmaceuticals lists on IEX market – first company to take an IEX only listing
Tuesday December 18th 2007: Shares in Merrion Pharmaceuticals, the specialist pharmaceuticals company with operations in Ireland and the United States, began trading today on IEX, the Irish Stock Exchange’s specialist market for small and medium-sized companies.
Coinciding with the listing, Merrion is raising €8 million (gross) in new equity and will have a starting market capitalisation of €67.16 million based on the issue price of €4.05 per share. Merrion is the first company to seek an IEX only listing and brings the number of companies on IEX to 30.
Irish Stock Exchange Chief Executive Deirdre Somers said: “Merrion Pharmaceuticals’ decision to list its shares on IEX shows once again that this market is filling a need for Irish growth companies who want a euro-denominated trading facility for their shares.”
Ms Somers added that the IEX market has shown that it is a valuable source of funding for small and medium-sized Irish companies. “The €8 million raised by Merrion is the latest in a number of substantial fundraisings on IEX by Irish companies and follows the €100 million raised earlier this year by Origin Enterprises, the €50 million raised by TVC Holdings and the €25 million raised by Boundary Capital”, she said.
Further information
Irish Stock Exchange
Deirdre Somers, Chief Executive
Tel: 01-6174200
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