It was a busy week for Cathal Friel, currently Ireland’s Mr IPO, and he shows no sign of slowing down.when he sold £6.14 million of shares – the remainder of his 3.1 per cent stake – in Hvivo, where he is the chairman.
His time will now be more closely focused on two other listed companies he recently set up, Poolbeg Pharma and European Green Transition. In the days after the news of the sale of his shares in Hvivo, it emerged that Poolbeg had de-listed from the OTCQB Market, a New York-based trading platform that allows interested parties to buy and sell shares without the supervision of an exchange. According to a market announcement, it cited “low trading volume and the associated administrative requirements” for the decision.
That’s very much in keeping with Friel’s wider ambition to take as many companies public as he can. Having already floated several companies and made himself and his investors a healthy return, he’s got plans for more in the coming years.