Markets

Euronext launches last-ditch attempt to keep Smurfit Kappa on Irish market

Stock exchange operator urges government action on stamp duty exemption and tax credits for companies launching IPOs in Ireland

Euronext Dublin has written to Michael McGrath demanding that the government amend the 2023 Finance Bill

The operator of the Irish stock exchange has urged the government to change Ireland’s tax laws as it launches a last-ditch attempt to prevent Smurfit Kappa from becoming the latest Irish giant to quit Dublin’s capital markets.

Euronext Dublin has privately told Michael McGrath, the Minister for Finance, that scrapping stamp duty on companies with dual listings in Ireland and the US is the “only mechanism” to halt the procession of firms from Ireland’s equities ...