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Eircom considering third stock market listing in space of 15 years

The formerly State-owned telecoms company was initially floated in Dublin, London and New York in 1999.
Apr 11th 2014, 7:26 PM 9,828 19

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. 

Read: Eircom error will leave 30,000 paying big bills

Supreme Court: Eircom can continue ‘three strikes’ policy on illegal downloading

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Daragh Brophy

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