Glenveagh Properties' shares fall on equity raise

Shares

Shares in Glenveagh Properties fell 4.9% on Wednesday to €1.16 after the Irish housebuilding firm announced it is seeking to raise €205m (£182m) in equity to fund further site acquisitions.

The company, which raised more than €550m from its IPO last October, has spent €400m since floating, said the new money would be used to buy new land and develop new and existing sites in Dublin, Cork, Limerick, and Galway.

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