Ireland’s Davy has become the biggest single shareholder in the Irish bourse. This was after a plan was made allowing the country’s stock market members to split EUR27.5 million bonus, reported Bloomberg.
Davy holds 37.5 percent in the Irish Stock Exchange after the bourse became a publicly listed limited firm. This was according to the ISE spokesperson Ailish Byrne during a telephone interview held today. On the other hand, Fexco Holdings’ Goodbody Stockbrokers has 26.2 percent stake in the bourse while Investec Plc holds 18 percent, Byrne added.
The Ireland Stock Exchange was a unit of the London Stock Exchange. However, in 1995, the Irish bourse was unable to hand out cash reserves, until today, to members because the company operates with a limited guarantee. In the past decade, the ISE also failed to catch mergers and acquisition listings in the last decade, said a report from Bloomberg.
ISE CEO Deidre Somers said, “This new legal structure brings the ISE more in line with corporate norms. This change also provides us with greater flexibility for our future development, which is of benefit to all our customers and stakeholders.”
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