Cairn Homes has disclosed plans for an initial public offering as soon as next week. It will be the first Irish homebuilder in nearly 20 years to float on the stock exchange.
 
Cairn Homes was set up last year and is chaired by the former KBC Bank Ireland chief executive John Reynolds. It plans to sell at least €300m to money managers before the shares start trading in London initially, according to Bloomberg. 

Bloomberg reports that Credit Suisse Group and Goodbody Stockbrokers in Dublin are understood to be advising on the transaction. The company is also said to be considering a second listing in Dublin. 

Cairn Homes was founded by Scottish accountant Alan McIntosh and Michael Stanley, the company's chief executive. 

Mr McIntosh was involved in setting up UK pub companies Punch Taverns and Spirit Group, according to the homebuilder's web site. 

Eamonn O'Kennedy, previously chief financial officer at Independent News and Media, is Cairn's chief financial officer.

The homebuilder is working on developments in Dublin, Galway and Meath. 

McInerney Holdings was the last Irish homebuilder to float on the Irish Stock Exchange in 1997. It cancelled its listing in 2010.