Readers like you keep news free for everyone.
More than 5,000 readers have already pitched in to keep free access to The Journal.
For the price of one cup of coffee each week you can help keep paywalls away.
Image: Shutterstock
THE BOARD OF Eircom is considering another listing on the stock market, a statement from the telecoms company confirmed this evening.
It says the a number of options are being explored “with a view to to further strengthening the financial position of the Group”.
Several changes have been made to the company’s loan arrangements recently, with a number of the repayment terms extended from 2017 to 2019.
According to the statement:
Improving the Group’s debt maturity profile has been a key milestone in securing a more sustainable and flexible capital structure for Eircom.
A spokesperson said the timing of any floatation was fluid and that no timeline had been decided yet.
“Nothing is ruled in or out, this is one of a number of options,” the spokesperson said.
If it goes ahead, the stock market listing would be the third for the formerly state-owned company in fifteen years.
Eircom was initially floated on the Dublin, London and New York exchanges in 1999 after a massive IPO. It was delisted two years later after being brought by the Valentia consortium, led by businessman Tony O’Reilly.
It was listed for a second time in 2004, and then de-listed once again two years later.
Additional reporting, Jack Horgan Jones.
COMMENTS (19)