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Three more firms joined the long list of prospective IPO issuers on Wednesday, as Cairn Homes, Sophos and Euskatel released intentions to float.
Cairn Homes, an Irish homebuilder, is seeking gross proceeds of EUR 350m-EUR 400m, at EUR 1 a share, to pay off a loan and acquire further sites. Members of the board of directors will subscribe to some of the offering. The founders of Cairn Homes will also invest EUR 29m of equity and cash in the company in return for ordinary shares at IPO, subject to a one year lock-up.
John Reynolds, chairman of Cairn Homes, said: "The Irish...