| An SI Board Since July 1999 |
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EIR |
| Emcee:
Teddy
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Type:
Unmoderated
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LONDON (CNNfn) - Ireland's biggest stock offering scored a solid debut Thursday as shares of Telecom Eireann surged more than 20 percent in both London and Dublin amid heavy demand from institutional investors.
The institutional offer for Eireann shares was oversubscribed 12 times, while the offer to individual investors was 2.1 times oversubscribed.
Mary O'Rourke (that's a very Irish name), Ireland's Minister for Public Enterprise, said the offering will effectively transfer shares in the telecom to one-fifth of the country's adult population of 2.7 million. More than half a million investors reportedly applied for the company's shares.
The launch couldn't have come at a more felicitous moment for Telecom Eireann, at a time when the Irish economy is in ascendance and the hunger for communications issues seems to grow by the day.
Telecom Eireann operates 1.5 million phone lines. Its mobile-phone unit, Eircell, provides service to 645,000 customers, while its pager subsidiary, Eirpage, has 30,000 customers. The company also offers Internet access through several businesses. KPN Telecom of the Netherlands and Telia of Sweden collectively hold a 35% stake in the company.
What do you think about this company as a long term investment?
I think Irish girls are beautiful and I hope a lot of them post here.
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