IRISH companies have for the first time claimed the top two accolades in a Europe-wide competition recognising the positive benefits that can be gained from equity financing.
Motorway service area operator Applegreen plc, based in the Republic, where it has a motor fuel market share of approximately 12 per cent, but with a significant and growing presence as a petrol forecourt retailer in the north, won the 'Star of 2016' European Small and Mid-Cap Award in Brussels (the company listed on the Irish Stock Exchange in June last year and raised €70 million on its initial public offering).
It beat off competition from the two other companies short-listed by the independent jury - Belfast-based Kainos Group plc and Spain’s Inclam Group plc.
As the winner of the Star of 2016 Award, Applegreen is considered to be an exceptional performer in its sector and a responsible corporate citizen.
In selecting the winner from newly-listed mid-cap companies across Europe, the judging panel also looks for a company that stands out from the crowd in a broad range of areas, is an exceptional leader, has clear growth potential and is well-managed and has made good use of the proceeds of flotation.
Deirdre Somers, chief executive of the Irish Stock Exchange and president of the Federation of European Securities Exchanges (FESE), said: “This is a fantastic achievement for Applegreen.
"These awards are coveted by newly listed companies throughout Europe and their exchanges. They are only awarded to companies with exceptional leadership and potential for growth. It is a very proud moment for me to see an Irish-listed company crowned the Star of 2016.”
Bob Etchingham, Applegreen’s chief executive, who accepted the Star of 2016 Award on behalf of the company in Brussels, said: "Listing on the Irish Stock Exchange has been a hugely positive experience for Applegreen.
"Our IPO enabled us to raise funds which we have used to expand in Ireland, the UK and the USA. Our listing has increased our profile and importantly, diversified our shareholder base internationally.
"Some illustrious companies were eligible for these awards so it is a huge honour for our team to be recognised as being one of the best newly-listed companies in Europe.”
Applegreen has a significant and growing presence as a petrol forecourt retailer in Northern Ireland, where it is adding a third motorway outlet on the M1 northbound, due to open by Christmas, and is also refurbishing an existing station on the A1 between Hillsborough and Dromore.
The company has also established 11 sites in in the US.
