Iona Technologies Mr Annrai O'Toole has taken advantage of the current demand for the shares and has realised $2.3 million (€2.44 million) after selling 37,500 shares at $61.86 each. Iona director Mr Sean Baker disclosed earlier this week that he sold $2.4 million worth of the company's share.

This is the fourth time since Iona's 1997 flotation that Mr O'Toole has sold sizeable volumes of Iona shares.