Earlier this year Debonair Holdings became the first UK company to have its ordinary shares quoted on EASDAQ, the new pan European stock market, raising over £28 million.

As a young unquoted company, which has traded for less than a year in an untested market, traditional UK sources of finance were not available.

The company needed to raise a substantial amount of capital to launch a low cost, low fare airline in Europe, similar to that available in the United States.

European investors were found securing a firm capital base. Starting with two aircraft, the airline now operates seven aircraft and flies to seven destinations.

EASDAQ (European Association of Securities Dealers Automated Quotation System) was set up in November last year to develop and operate a well regulated stock market which is liquid, efficient and fair, where fast growing companies with international aspirations can raise capital from investors.

It is modelled on the US NASDAQ market which has over 5000 listed companies and is larger than London and Tokyo combined.

As well as providing a way to raise equity capital, it also provides a ready market for trading shares.

Although, regulated under Belgian law, it operates as a single market throughout Europe and a company can list its shares in the currency of origin.

To date there are 15 listed companies on EASDAQ with a capitalisation of US $3.3 billion.

It's set to grow and for companies looking to raise capital, it is a new market definitely worth investigating.

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