Figures from the Irish Stock Exchange show that the value of share deals in the first three months of 2009 was just over a quarter of the value in the same period last year.
The ISE said 570,000 share deals were made through the Dublin market in the three months, roughly in line with a year earlier. But due to falling share prices, the value of these deals slumped from €40.4 billion to €10.8 billion.
Eight companies raised €1.3 billion in the period, the biggest being CRH's rights issue in March.
But turnover in Irish Government bonds and Treasury Bills jumped 64% to €25 billion, as the National Treasury Management Agency raised €12.5 billion to help fund the deficit in the public finances.
The ISEQ index fell by 6% in value during the quarter, as the financial part of the index dropped by more than 50%.
