Cork-based financial services firm Global Shares aims to be in a position in 2020 where it could stage an initial public offering (IPO) on either the London Stock Exchange or the Nasdaq. The firm is expected to be valued at about €100m by then and making pre-tax profits of $16m (€15.1m)
A recent fundraising by the company secured €4.5m in backing, with a number of well-heeled businesspeople stumping up cash. Technology entrepreneur Pearse Mee invested €900,000. The fundraising valued Global Shares at €28.2m.
Global Shares was founded in 2005. The founder and former chief executive of IFG, Richard Hayes, later led an investment group that took a significant interest in the Cork firm. He is now chairman of Global…