The Continental Farmers Group has started trading on Dublin's Enterprise Securities Market, the Irish Stock Exchange's market for growth companies.

The group raised €16.7m as part of its initial public offering of shares and was launched on the ESM with a market capitalisation of €42.7m.

The admission of the firm increases the number of companies quoted on the ESM market to 24.

'Continental Farmers Group has an ambitious growth strategy planned for the next five years. The decision to raise funds on public markets at this time is the logical next step for the group's development,' commented Nick Parker, Chairman of CFG.

'Having an Irish Stock Exchange quotation is important for Continental Farmers Group as it facilitates the company in attracting euro investors from both Irish and international markets,' he added.