Investing 101 — IPO’s raise funds for companies in the so called Primary Market.
The Secondary market (i.e. post-IPO) doesn’t directly help companies fund expansions etc.
Instead of encouraging speculation on the secondary market, the government should incentivize people to get involved in schemes such as BES (Business Expansion Scheme). This is already quite tax efficient for investors — but more should be done to encourage investment directly in these smaller, entrepreneurial companies. To reduce investor risk, funds can be set up to diversify investment across qualifying companies.
Don’t waste euros on Eircom-style IPOs or on the secondary market. Help out the real bread-n-butter companies.

http://www.enterprise-ireland.com/Grow/Finance/Business_Expansion_Scheme.htm

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