October 2, 2017 / 6:40 AM / 10 months ago

Irish housebuilder Glenveagh to raise up to 550 mln euros in IPO

DUBLIN, Oct 2 (Reuters) - Glenveagh Properties plans to raise up to 550 million euros in one of Ireland’s largest initial public offering since the 2008 financial crisis.

Glenveagh, which will combine development land acquired in Ireland by U.S. private equity firm Oaktree with the assets of Irish builder Bridgedale, has approximately 1,700 shovel ready units and plans build at least 1,000 new homes a year by 2020.

Conditional trading on the Irish and London Stock Exchange is expected to begin on October 10, it said on Monday.

Credit Suisse and Ireland’s Davy have been appointed as joint global coordinators. (Reporting by Padraic Halpin; editing by Jason Neely)

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