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The Irish Stock Exchange (“ISE”) welcomes Hibernia REIT plc (“Hibernia REIT”), whose shares began trading on the Main Securities Market (MSM) today.
Hibernia REIT has raised €365m from Irish and international investors as a result of listing on the Irish market.
Hibernia REIT is the second REIT (real estate investment trust) to be launched in Ireland and to list on the ISE. Its shares will trade under the ticker HBRN and it is included in relevant ISEQ indices.
The Company's stated objective is to assemble a portfolio of attractively-located, primarily institutional-quality, income-producing properties in Ireland, mainly in the commercial space and in the greater Dublin area.
Deirdre Somers, Chief Executive of the ISE, said:
“This is the fourth major listing on the ISE’s equity markets in recent months and we are delighted to provide a platform to allow investors in Ireland and around the world to invest in Hibernia REIT.
The addition of Hibernia REIT is yet another example of the strong appetite among investors for equity investments in Ireland and Irish businesses and also highlights the effectiveness of Ireland’s new REITs legislation”.
Kevin Nowlan, Chief Executive of Hibernia REIT, said:
“We believe a unique opportunity exists in Ireland to build an attractive property investment portfolio in light of current property values, the supply of assets on the market and the outlook for rents. We intend to create both sustainable income and strong capital returns for the company and its shareholders.
We are pleased to be listing on the Irish Stock Exchange. Dublin is a highly attractive place to do business and we acknowledge the support of the Irish government for introducing REIT structures in Ireland and the ISE for its support in enabling our listing.”
Goodbody is acting as equity sponsor to Hibernia REIT.
