Dublin stock exchange up for grabs as part of new strategy
THE Irish Stock Exchange (ISE) has enlisted US investment bank Moelis & Co to help find it a buyer.
The news emerged in a report by specialist publication Buyouts magazine, which said the ISE is up for sale and that deal books went out last month.
The ISE, which is led by chief executive Deirdre Somers ( right), did not deny the story. An ISE spokesman said: “Since the Brexit referendum, we have been evaluating potential strategies to ensure that the ISE is well placed to take full advantage of Brexit-related business opportunities. This work is ongoing.”
The ISE is owned by a number of stockbroking firms. Davy, Goodbody, Investec, Cantor Fitzgerald and Campbell O’connor have stakes in the business, which had operating profits of €9.2m (£8.14m) last year.
Another stock exchange is seen as the likely buyer.
Industry sources said the exchange may be attractive for the London Stock Exchange as it would enable it to keep a foothold in the European Union after Brexit takes effect.