Q1 2015 statistics show record high equity trades and €2.2bn funds raised.
- Equity trading volumes hit record high in Q1, with over 1.4m equity trades taking place
- Funds raised of over €2.2bn - including €330m by Malin in one of the largest life science IPOs ever to take place in Europe
- New bond listings from Ryanair, Rentokil and Hipercor add to the 32,800 securities now listed on the ISE
- ISEQ up 15.2% in the first quarter of 2015
- Irish Government bonds and treasury bills show strong activity and fund raising over the quarter
Equity trading volumes hit record high in Q1, with over 1.4m equity trades taking place
The very strong demand for Irish shares that has been evident during 2014 continued into Q1 2015, according to new statistics published today by the Irish Stock Exchange (ISE).
Over 1.4m equity trades were recorded during the quarter to March 2015, an increase of 28.3% from Q4 2014 and the highest ever recorded in one quarter in the ISE’s history. Turnover in equity shares and the ISEQ20 ETF, at €23.9bn, was up almost 70% on Q4 2014 levels and is 34% higher than the same period in 2014 (€17.9bn). The average daily turnover for equities stood at €380m per day in Q1 – up 72.7% on Q4 2014.
Funds raised of over €2.2bn including €330m by Malin in one of the largest life science IPOs ever to take place in Europe
Six companies on the ISE’s equity markets raised a total of €2.2bn during Q1 2015.
Malin Corporation plc secured up to €330m from international investors in March debuting one of the biggest IPOs ever to be seen in the life sciences industry in Europe. Malin’s decision to list exclusively on the Enterprise Securities Market (ESM) brings the number of companies quoted on the ESM to 27.
Five other companies had placings, with CRH leading the statistics with €1.6bn raised. The other companies raising funds included Irish Residential Properties Reit (€215m), Dalata Hotels (€50m),
Providence Resources (€26m) and First Derivatives (€21m).
New bond listings from Ryanair, Rentokil and Hipercor add to the 32,800 securities now listed on the ISE
The ISE saw an increase in almost 400 securities listed over the course of the first quarter and now counts more than 32,800 securities from over 4,000 issuers from 80 countries around the world including Europe, North America, Latin America, the Middle East, Asia and Africa.
New debt tranches admitted in Q1 2015 were 1,691. Among the new bonds listed were:
- an €850m bond from Ryanair to finance its aircraft. This debt issuance is part of Ryanair’s euro MTN programme worth €3bn
- the first listing in Europe by Pemex, the Mexican state-owned petroleum company, and one of the largest companies in Latin America The issuance was valued at 25.3bn Mexican Pesos
- a €500m debt issuance by Hipercor S.A., one of the most prominent retail chains in Spain
- A US$750m additional tier 1 (AT1) capital listing by Swedbank, on the Global Exchange Market (GEM)
- a €320m debt listing on GEM from Holdikks SAS, which owns the premium French brand IKKS which has 2,000 retail stores across Europe
- a €50m listing by Rentokil, the global provider of facilities management, hygiene and medical services. This is part of their €2.5bn MTN programme
- two bond listings of €750m and €800m by TDC A/S, the largest telecommunications company in Denmark. These bonds are part of a €5.5bn MTN programme
- the first Italian “project bond” in Europe when Autostrada Brescia Verona Vicenza Padova S.p.A listed a €600m bond on the Main Securities Market (MSM).
Fund classes also rose by 84 bringing the number of funds on the MSM to 7,451 (Q4: 7,367). The total number of funds listed on the ISE fell from 676 to 648 during Q1, while the number of subfunds decreased from 1,509 to 1,498.
Irish Government bonds and treasury bills show strong activity and fund raising over the quarter
A 41.3% increase in turnover to €105.5bn demonstrated continued strong interest in investing in Irish Government bonds and treasury bills during the quarter.
The NTMA raised €10.5bn over the quarter through the issuance of a new €4bn 30-year syndicated bond and a number of treasury bills. The €4bn bond with a coupon rate of 2% was admitted to listing and trading on the MSM. Over 95% of the issuance was taken up by overseas investors including U.K. (26%), Germany (24%), France (13%), U.S. (7%), Nordics (7%), Asia (2%) and other mainland Europe (14%).
Market capitalisation for Irish Government securities now stands at €120.2bn (end 2014: €110.3bn).
ISEQ up 15.2% in the first quarter of 2015
The ISEQ Overall Index continued its strong performance and reached 6,019 at the end of March 2015 (end 2014: 5,225). This 15.2% increase in Q1 follows of a 15.1% rise in 2014.
The ISEQ20 index used as a basis to track the ISEQ20 exchange traded fund (ETF) had a slightly bigger increase of 15.6%. The ISEQ20 ETF, which trades on the ISE, offers a diversified portfolio of the leading 20 Irish companies.
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