Cairn Homes co-founders buy more stock as part of share placing
Michael Stanley and Alan McIntosh each purchase 129,870 shares
Cairn Homes raised €51.9 million from recent share placing. Photograph: Nick Bradshaw
Mr Stanley, the chief executive, and Mr McIntosh each purchased 129,870 shares at a total price of almost €200,000, a notification to the stock market confirmed.
The Irish residential homebuilder, which is listed in London, raised €51.9 million from a share sale earlier this month to give itself flexibility to continue to acquire residential development land.
This brought to €722.5 million the amount of equity the group has raised since its initial public offering in June 2015. The ordinary shares were priced at €1.54.