Irish housebuilder Cairn Homes has confirmed its intention to list on the Irish Stock Exchange (ISE).

The company which floated on the London Stock Exchange two years ago revealed earlier this year that it planned to take out a full listing in Dublin, having been prevented from doing so until now because its financial performance track record wasn't sufficiently long.

Following publication of a summary document it is expected that admission to the ISE will become effective on July 26th.

The company is not raising any funds or issuing new shares in connection with admission and no shares will be offered to the public in Ireland or the UK.

On admission to the ISE there will be just under 723 million ordinary shares in issue.

The €1.05 billion market value would put Cairn Homes just outside the 10 largest companies on the Iseq.