Cantrell and Cochrane’s flotation on the Dublin and London stock markets received a blunt response from the Irish Independent.
A glossy leaflet has been arriving in Irish mailboxes in recent weeks, advertising the C and C flotation, and recommending the shares: trash it, says the Independent.
The leaflet has been printed by the Bank of Ireland, which has a major vested interest in making people buy shares in C and C.
Under Stock Exchange rules, the Bank of Ireland is not allowed to recommend the shares, so it describes the flotation as an “opportunity.” If the flotation is a success, the bank stands to make a small fortune.
According to the Independent, “Bank of Ireland’s corporate arm, IBI Corporate Finance, are joint lead managers of the global offer for C and C.”