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Irish construction firm to list on London Stock Exchange

Cairn Homes said the company will issue shares at one euro each ($1.11) and is seeking to raise 350 to 400 million euros in the share placing, in addition to a 29 million euros investment by the company's foundersAn Irish construction company announced Wednesday it would list on the London Stock Exchange to raise funding to deliver new homes as strong demand returns to the Irish property sector. “There is an imbalance between the demand for and supply of housing in Ireland, particularly in Dublin and surrounding areas, driven by a lack of capital, operational capacity and legacies of the financial crisis,” Cairn Homes said in a statement. Limited supply, particularly in Dublin, has driven up property prices after the sector collapsed and lending ceased during the 2008-2012 financial crisis.

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