Mr Tom Healy told The Irish Times that five companies will take a full market listing while the number of companies on the Developing Companies Market (DCM)is set to double with five DCM flotations in 1998. This unprecedented level of flotations compares to just five flotations on the market last year.

According to Mr Healy, the DCM could well attract more companies than the five that have already been identified at this stage by professional advisers. While he was not willing to name the likely candidates, he said they would be from a range of sector and not just the high-technology sector.

Athlone Extrusions is likely to be the first 1998 flotation with a late-January impact date pencilled in, while others that may move to a full listing are the NASDAQ-listed CBT and Esat Holdings.