Hibernia REIT To Float On Irish, London Stock Exchanges

By ExpatBriefing.com Editorial 03 December, 2013

Hibernia REIT Plc plans to launch a EUR350m (USD476m) initial public offering and list on the Dublin and London stock exchanges.

The company said in a statement on November 28, 2013 that it would mostly own commercial real estate in Dublin, Ireland. It will seek to generate before-tax returns of 10-15 percent for shareholders each year when fully invested.

Ireland's commercial property market is healthy at present, generating annual income returns of 9.7 percent, the highest in the world, according to Investment Property Databank Ltd.

The company's shares are expected to go on sale within two weeks.

Kevin Nowlan, head of Nowlan Property REIT Management, which has been appointed as Hibernia REIT's sole investment manager, says: "Dublin is a highly attractive place to do business and with the Irish economy improving, demand for commercial space is set to rise. We commend the Irish government for moving to introduce REIT structures and look forward to acquiring and actively managing a high quality portfolio of properties."

Tags: Investment | Business | Real-estate Investment | Ireland | Real-estate | Stock Exchanges | Expats | Investment | Invest | Investment |


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