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11/12/2013
Hibernia REIT Joins Stock Exchange
Property investment company Hibernia REIT has joined the Irish and London Stock Exchanges.
The company has placed 361m shares, amounting to an initial market capitalisation of €365m.
Hibernia said its the principal activity will be to acquire and hold investments in Irish property (primarily commercial property) with "a view to maximising its shareholders’ returns".
Finance Minister Michael Noonan said: "I welcome the launch of Hibernia REIT, Ireland’s second REIT, less than a year after I announced the introduction of the tax framework in December 2012.
"This will bring further investment capital to the Irish property market, and will also provide increased choice for investors. I have introduced a number of supply side initiatives in recent years to support the recovery of this sector and there are real signs of life starting to return – particularly on the commercial property side in Dublin and other cities."
(IT/CD)
The company has placed 361m shares, amounting to an initial market capitalisation of €365m.
Hibernia said its the principal activity will be to acquire and hold investments in Irish property (primarily commercial property) with "a view to maximising its shareholders’ returns".
Finance Minister Michael Noonan said: "I welcome the launch of Hibernia REIT, Ireland’s second REIT, less than a year after I announced the introduction of the tax framework in December 2012.
"This will bring further investment capital to the Irish property market, and will also provide increased choice for investors. I have introduced a number of supply side initiatives in recent years to support the recovery of this sector and there are real signs of life starting to return – particularly on the commercial property side in Dublin and other cities."
(IT/CD)
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