Mincon commences trading on the ISE raising €50m
The ISE welcomes Mincon Group (Mincon) to the Enterprise Securities Market (“ESM”).
Mincon specialises in the design, manufacture, sales and servicing of rock drilling consumable tools and related products. Headquartered in Shannon, Mincon has manufacturing facilities in Ireland, the USA and Australia. It also maintains an established network of sales and distribution companies in a number of international markets to provide after sales support and service to customers.
Mincon raised €50m as part of its flotation and joins the ESM with a market capitalisation of €180m. Mincon’s ESM ticker symbol is MIO.
Kevin Barry, CEO of Mincon, speaking at the company’s market launch at the ISE, said “Floating on a public market is a significant milestone for Mincon. By listing on the Irish Stock Exchange, Mincon will be able to source international capital to fund the next phase of its expansion. We operate in a global marketplace, having a stock exchange listing also enhances our reputation with our international customers.”
Deirdre Somers, Chief Executive of the ISE, added “Mincon is a mature export-orientated Irish business which has grown through the development of its manufacturing, distribution and client base internationally. We are delighted to see a company like Mincon use the public market as a means to raise international capital. It demonstrates that the ISE is a place for established and emerging Irish companies to scale their business. A listing on the ISE complements Mincon’s global focus and will raise its profile among the international investor and broking community.”
Davy is acting as ESM advisor to Mincon.