ESB shares up after staff and pensioners cash in

A total of 6.69 million shares were sold during the day-long market last month

Any staff who retire or leave ESB through voluntary severance are forced to sell a third of their remaining shares each time a market is held.

ESB shares rose 20 per cent to €1.20 when a market allowing staff and pensioners to cash in on their shareholdings was opened for one day.

A total of 6.69 million shares were sold during the day-long market last month, with the vast bulk offloaded by pensioners compelled by rules that force them to sell a third of their holding each time a market is held.

This was just the third time the ...