Cairn Homes set for Dublin stock market listing

Irish residential building firm Cairn Homes is backing up its rallying cry for more equity-led builders to drive growth in the housing market by seeking a primary share listing on the Irish Stock Exchange.

The company, which raised €400m from listing on the London Stock Exchange in 2015, announced the plan yesterday and said a Dublin listing had always been its intention but that certain market restrictions to new firms had postponed the plan.

Speaking yesterday, on the back of a solid set of annual results, Cairn’s chief executive Michael Stanley said the Irish housing sector is in need of more domestically-based, publicly-quoted/equity-backed building firms to grow the market, adding that there is a “huge imbalance” between office and residential building projects in Dublin at present.