{"id":1242,"date":"2015-06-11T13:31:32","date_gmt":"2015-06-11T13:31:32","guid":{"rendered":"http:\/\/poseidon-gp.com\/property\/?p=1242"},"modified":"2015-06-11T13:31:32","modified_gmt":"2015-06-11T13:31:32","slug":"housebuilder-cairn-homes-raises-over-e400m-in-lse-debut","status":"publish","type":"post","link":"https:\/\/poseidon-gp.com\/property\/housebuilder-cairn-homes-raises-over-e400m-in-lse-debut\/","title":{"rendered":"Housebuilder Cairn Homes raises over \u20ac400m in LSE debut"},"content":{"rendered":"<p class=\"no_name\">Irish housebuilder <a class=\"search\" href=\"http:\/\/www.irishtimes.com\/search\/search-7.1213540?tag_company=Cairn%20Homes&amp;article=true\">Cairn Homes<\/a> raised over \u20ac400 million in new equity capital in its debut on the <a class=\"search\" href=\"http:\/\/www.irishtimes.com\/search\/search-7.1213540?tag_organisation=London%20Stock%20Exchange&amp;article=true\">London Stock Exchange<\/a> (LSE).<\/p>\n<p class=\"no_name\">The company placed 400,000,000 ordinary shares at \u20ac1 per share.<\/p>\n<p class=\"no_name\">Cairn is the first Irish homebuilder to float on the stock market since McInerney Holdings in 1997.<\/p>\n<p class=\"no_name\">The group said that on admission to the LSE, the total market capitalisation of the company will be \u20ac429.7 million. Cairn said it expects to raise approximately \u20ac384.9 million of net proceeds from the offer, after deducting fees.<\/p>\n<p class=\"no_name\">Cairn Homes was set up last year and is chaired by former <a class=\"search\" href=\"http:\/\/www.irishtimes.com\/search\/search-7.1213540?tag_company=KBC%20Bank%20Ireland&amp;article=true\">KBC Bank Ireland<\/a> boss <a class=\"search\" href=\"http:\/\/www.irishtimes.com\/search\/search-7.1213540?tag_person=John%20Reynolds&amp;article=true\">John Reynolds<\/a>. It was founded by Scottish accountant Alan McIntosh and <a class=\"search\" href=\"http:\/\/www.irishtimes.com\/search\/search-7.1213540?tag_person=Michael%20Stanley&amp;article=true\">Michael Stanley<\/a>, the company\u2019s chief executive.<\/p>\n<p class=\"no_name\">The company also announced on Wednesday a subscription for ordinary shares by members of the board of directors of the firm. Earlier this month, the groupy confirmed an investment of approximately \u20ac29 million in equity and cash by the company\u2019s founders.<\/p>\n<p class=\"no_name\">\u201cThis is an important day for the Irish homebuilding industry. It has been two decades since the last Irish homebuilding company floated. The successful initial public offering, raising in excess of \u20ac400 million of new equity capital, is a decisive step for Cairn Homes as we take a new and sustainable approach to building high quality new houses and apartments for our customers,\u201d said Mr McIntosh.<\/p>\n<p class=\"no_name\">The homebuilder said earlier this month it is currently working on a number of developments in Dublin, Galway , Cork and Co Meath.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Irish housebuilder Cairn Homes raised over \u20ac400 million in new equity capital in its debut on the London Stock Exchange (LSE). The company placed 400,000,000 ordinary shares at \u20ac1 per share. Cairn is the first Irish homebuilder to float on the stock market since McInerney Holdings in 1997. The group said that on admission to [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,1],"tags":[],"class_list":["post-1242","post","type-post","status-publish","format-standard","hentry","category-news","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-k2","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/1242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=1242"}],"version-history":[{"count":0,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/1242\/revisions"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=1242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=1242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=1242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}