Glenveagh Properties plans to raise up to 550 million euros ($646 million) in Ireland's second-largest initial public offering since the 2008 financial crisis to add much needed housing supply to Europe's fastest growing economy.
While Ireland was left with a surplus of houses after values were cut in half following the property crash a decade ago, a recovery in the construction sector has badly lagged the general economy, causing house prices and rents to rise sharply again.
Glenveagh will become just the second Irish housebuilder to float since the economy began to turn around, following Cairn Homes in 2015.
Glenveagh's IPO will also beat the 385 million euros Cairn raised and be the second largest on the Irish stock exchange, in June.
GLENVEAGH PROPERTIES LTD; is an Irish house building company, founded on August 9, 2017. The company's executives now are Stephen Garvey, John Mulcahy and Justin Bickle, who are the directors of 34 Irish companies; Two of them were new closure. This Irish company shares Eircode with at least 590 other companies.