Capital Market Regulations in Ireland

The Irish Stock Exchange

The Irish Stock Exchange is the only stock exchange in the country and was enabled in 1793. The Stock Exchange in Ireland is currently one of the largest centers in the listing of debt and fund securities in the world, and is also the main center for Irish companies trading their shares. The Irish Stock Exchange is currently used by more than 4,000 issuers from 80 countries. The Stock Exchange has three main markets:

• -          the Main Securities Market (MSM) which is dedicated to Irish and foreign companies which can trade equities and debt securities,
• -          the Enterprise Securities Market (ESM) which is dedicated to small and medium-sized companies,
• -          the Global Exchange Market (GEM) dedicated to professional investors.

The Irish Stock Exchange has recently launched the Atlantic Securities Market (ASM) dedicated to Irish companies trading in euros and US dollars.

Legislation regarding trading on the Irish Stock Exchange

The main laws regulating trading activities on the Stock Exchange are the Irish Companies Law and EC Directives:

• -          Prospectus Regulations 2005,
• -          Transparency Regulations 2007,
• -          Market Abuse Regulations.

Irish companies wanting to trade their shares on the Stock Exchange are required to have their equity securities admitted on the Main Market and to the listing of the Stock Exchange’s official list. The total market value of the securities a company wants to list has a minimum threshold of 1 million euros, but exceptions can be done if the company satisfies certain conditions. The trader must also have a three-year trading history which will be supported by updated accounts no older than six months.

For complete information about trading requirements you can refer to our Irish specialists in company formation.

The main documents required to list a company on the Irish Stock Exchange

The following documents must be submitted when listing an Irish company on the Stock Exchange:

• -          a completed application form,
• -          a copy of the approved prospectus and a certificate of approval ,
• -          additional supplements to the prospectus, if any,
• -          a written confirmation of the securities to be listed.

If the prospectus was not prepared, the application must contain a confirmation that such document is not required.

If you need help with the listing procedure or preparation of the required documentation you can contact our consultants in company registration in Ireland.