Initial public offerings—Ireland—Q&A guide

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • Initial public offerings—Ireland—Q&A guide
  • 1. What is the size of the market for initial public offerings (IPOs) in your jurisdiction?
  • 2. Who are the issuers in the IPO market? Do domestic companies tend to list at home or overseas? Do overseas companies list in your market?
  • 3. What are the primary exchanges for IPOs? How do they differ?
  • 4. Which bodies are responsible for rulemaking and enforcing the rules on IPOs?
  • 5. Must issuers seek authorisation for a listing? What information must issuers provide to the listing authority and how is it assessed?
  • 6. What information must be made available to prospective investors and how must it be presented?
  • 7. What restrictions on publicity and marketing apply during the IPO process?
  • 8. What sanctions can public enforcers impose for breach of IPO rules? On whom?
  • 9. Describe the timetable of a typical IPO and stock exchange listing in your jurisdiction.
  • More...

Initial public offerings—Ireland—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to initial public offerings in Ireland published as part of the Lexology Getting the Deal Through series by Law Business Research (published: November 2020).

Authors: Eversheds Sutherland (Ireland)—Lee Murphy; Ryan Duggan

1. What is the size of the market for initial public offerings (IPOs) in your jurisdiction?

Given the current covid-19 circumstances, it is perhaps unsurprising that there have not been any IPOs to date in 2020. However, Open Orphan plc did, by way of a recommended all-equity offer process, complete a merger with hVIVO plc (a technical reverse takeover) along with associated fundraises with the enlarged entity listing on both the Euronext Growth market (Euronext Growth) of Euronext Dublin and the AIM market (AIM) of the London Stock Exchange (LSE). 

2019 proved a difficult year for IPOs across Europe but Ireland had a relatively consistent 2019 with the medical supplies distribution business, Uniphar plc, raising circa €139 million in gross proceeds listing on both Euronext Growth and AIM. In addition, a reverse takeover (with a related placing of £4.5 million worth of shares) took place of Venn Life Sciences Holdings plc (which had an existing admission on Euronext Growth and AIM) by Open Orphan with the new enlarged entity, Open Orphan plc, now trading on Euronext Growth and AIM. As previously mentioned, Open Orphan plc subsequently merged

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