ByrneWallace, the Irish Stock Exchange and Goodbody host seminar to debunk the myths of companies going public

What are the realities of listing on the stock market? How can a company ready itself for an IPO? 

These were the key questions addressed at a seminar hosted by ByrneWallace in association with the Irish Stock Exchange and Goodbody at ByrneWallace’s offices on Tuesday, 17 October. 

Guests heard from two panels of speakers – one representing companies which have successfully floated, and the other comprising key players from the investor community who have backed IPOs. The speakers shared their insights and lessons learnt on the merits of going public, and the pitfalls to avoid in the process. Other issues discussed included how listing on a public market can lead to more sources of capital; what investors typically look for in an IPO candidate; and, most importantly, what are the key steps companies need to take  in order to prepare for an IPO. 

Panellists included Feargal Mooney, CEO, Hostelworld Group plc (the online hostel booking company that went public in 2015);  Brian Caulfield, Managing Partner, Draper Esprit plc (the ISIF-backed venture capital company that floated in Dublin and London in 2016); David Kennedy, CFO and Company Secretary, Datalex plc; Eimear Moloney, Associate Director of Global Equities, Zurich Life Assurance plc; James Brennan, Head of Venture Fund Investments in Ireland Strategic Investment Fund (ISIF); and John Mattimoe, Senior Fund Manager, Appian Asset Management. 

The event was moderated by Gerry Beausang Corporate Partner and Head of Capital Markets at ByrneWallace. Orla O’Gorman, Head of Equity, Irish Stock Exchange described how companies can access the capital markets to fund their ambitions.  Linda Hickey, Head of Corporate Broking, and John Flynn, Corporate Finance Director, Goodbody, outlined the roles of broker and corporate finance adviser on a typical IPO transaction.

Commenting on the event Gerry Beausang from ByrneWallace said, “The purpose of this event was to dispel the common misconceptions around a company going public. It is more achievable than most companies in that space might appreciate.  Over the years, ByrneWallace has advised a number of clients, across various sectors, in relation to IPOs. As it is a process companies will only live through once in their lifetime, the management team may have limited knowledge of what the process entails, as well as the potential benefits of listing on the stock market and the pitfalls to avoid when carrying out an IPO, and we aimed at this event to clarify some of those issues.”   

“A stock market listing provides companies with a platform to raise permanent capital from international investors and fuel their ambitions to scale their companies,” said Orla O’Gorman from the Irish Stock Exchange.” 

Linda Hickey from Goodbody added, “It’s a great time for Irish companies to think about going public. The IPO market is open and there’s been a number of successful Irish IPOs so far this year. Irish companies are in the spotlight for a lot of international investors, given strong economic growth and continued strong performances from Irish companies that are already listed.”

Gerry Beausang said, “ByrneWallace are delighted to have had this opportunity to work closely with the Irish Stock Exchange and Goodbody to facilitate this seminar, and bring together such an array of prominent business leaders and investors of successfully listed Irish companies to share real insights and practical tips with corporates considering an IPO as part of their future strategy.”

Pictured (L:R) - John Flynn, Corporate Finance Director, Goodbody; Linda Hickey, Head of Corporate Broking, Goodbody; Orla O’Gorman, Head of Equity, Irish Stock Exchange; and Gerry Beausang, Corporate Partner & Head of Capital Markets, law firm ByrneWallace.