Cairn Homes raises €440 million in IPO

Goodbody acted as joint global coordinator on placing and open offer and as bookrunner on placings.

Cairn Homes is an Irish housebuilder founded in 2014 by Michael Stanley and Alan Macintosh. Cairn Homes raised €440m in its IPO in June 2015, with three subsequent capital raisings totalling c.€280m, with additional debt facilities of €250m, which it has used to finance residential land acquisitions and development, predominantly targeting the Dublin market and commuter counties. Management is targeting delivery of at least 1,200+ units per annum by 2019, when fully operational, and has been very active since IPO, with the acquisition of a core land bank in excess of c.12,700 units.

 

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