The co-founder and chief executive of Cairn Homes, Michael Stanley, has sold eight million shares in the house building company.
The shares sold at a price of €1.84 cent each - representing a total sale value of €14.72m.
Cairn said that following the placing, Mr Stanley continued to hold around 2.3% of its issued share capital.
Earlier this week, Cairn Homes reported a record half year performance amid favourable market conditions and said it remains on track for another year of "exceptional" growth in volumes, revenue and profitability.
Cairn Homes said its revenues for the six months to the end of June rose by 67% to €366.1m from €219.5m the same time last year, while its operating profits soared by 107% to €61.4m from €29.6m.
The company said it closed a total of 894 units in the first half of the year, up from 535 the same time last year.
Cairn said its homes were selling at an average of €383,000, an increase of 4% on the €370,000 selling price in the first half of 2023.
It said it continued to grow its multi-year forward sales pipeline and its closed and forward order book has increased to 3,450 new homes with a net sales value of €1.32 billion.
Shares in the company were lower in Dublin trade today.
