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Irish Stock Exchange Publishes Review of 2014

Irish Stock Exchange

The Irish Stock Exchange (ISE) has today published its review of 2014, during which the ISE consolidated its position as a leading global centre for debt and funds listings and three new IPOs raised a combined total of €484 million for companies listing on the ISE.

Chief Executive Deirdre Somers said 2014 was another strong year for the ISE as it continued to grow its revenues and completed changes to its corporate structure that will facilitate future growth.

“This was a landmark year for the Irish Stock Exchange,” said Ms Somers. “We added over 7,000 new debt listings and 1,600 new fund classes during 2014, finishing the year with more than 32,000 securities, representing over 4,500 issuers located in 85 countries. Transactions in the Irish equity market grew by 30% in 2014, to a record high 4.5m trades for the year, maintaining the ISE’s position as the dominant pool of liquidity for Irish equities. ”

Ms Somers added:
“The ISE’s successful transition into a public limited company during 2014 reflects the ambitious, diverse international business the ISE has become. Our new structure will complement our strategy of becoming the number one EU exchange for global fixed income, funds and Irish securities by 2018.”

Other key highlights of the year included:

  • The ISEQ Overall Index delivered a 15% gain during 2014, building on 2013’s gain of 34%
  • Irish equity transactions grew by 30% during 2014, building on 42% growth in 2013
  • Over 7,000 new debt listings and 1,600 new fund classes added during 2014, finishing the year with more than 32,000 securities, representing over 4,500 issuers located in 85 countries
  • The launch of isefundhub.com, a new information portal for funds listed on the ISE that displays important information such as fund net asset values (NAVs) and key fund documents, as well as extensive performance based analytics.
  • A report by Indecon economic consultants found that having a local stock market and securities industry directly supports 2,100 jobs in Ireland and is worth €207 million each year to the Irish economy
  • The ISE announced plans to launch a programme to support entrepreneurs and companies preparing for a stock market listing (initial public offering or IPO) – #IPOready.
  • The ISE cut clearing fees by 50% to stimulate further growth in the Irish equity market, successfully migrated to a shorter settlement cycle to enhance market efficiency and delivered a further significant upgrade of its electronic trading platform, ISE Xetra
  • The ISE began an extensive recruitment programme in late 2014 aimed at increasing staff numbers by 10% to manage strong growth in new business volumes
  • The ISE signed a Memorandum of Understanding with the Shanghai Stock Exchange to facilitate new international business and develop the relationship between the exchanges

New debt listings included:

  • Government issuers: Republic of Kenya, the Federal Democratic Republic of Ethiopia, Republic of Macedonia, Republic of Senegal and the Republic of Azerbaijan.
  • Broadcasters: Sky Television and Discovery Communications plc
  • Major North America based issuers: Fannie Mae and Freddie Mac (US government-backed mortgage issuers), Verizon (a major telecoms provider),
  • General Motors Financial Company Inc and La Caisse Centrale Desjardins Du Quebec
  • Major European corporate issuers: Ryanair, Debenhams, Darty (French electrical goods retailer), Telecom Italia, Arla (major Scandinavian agribusiness group), Moy Park, HSBC France, Mediobanca, Nykredit Bank, Saxo Bank and Swedish Steel Company
  • Major Middle East/Asia issuers: Abu Dhabi Commercial Bank, Kuwait Energy, National Bank of Oman, Emirates Telecommunications Corporation, Fosun International (the largest privately owned conglomerate in mainland China)

New funds listings included:

  • Exchange Traded Funds – 24 new ETFs listed on our main market from ETF providers such as Vanguard, Powershares, Pimco, Source, Wisdomtree and First Trust bringing the total to 114
  • 183 new funds including some new managers using Irish fund structures (Lord Abbett, Arden Asset Management, Logan Circle) as well as existing managers expanding their fund ranges (Principal Global Investors, Babson Capital, Neuberger Berman, Sanlam, JO Hambro, Janus Capital and GAM).

Three new IPOs:

  • Dalata (raising €265m)
  • Irish Residential Properties REIT (raising €200m)
  • Mainstay Medical (raising €18m)

Mainstay is the first company on the Irish market to have a dual quotation with Euronext Paris. The ISE now has active dual listings with the UK, US, Canada, France and Switzerland.

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