Green Property has successfully completed the rights issue to raise £60 million with 99 per cent of the issue being taken up. The rights were on the basis of two new shares, at 350p per share, for every seven ordinary shares held. Those not taken up were sold in the market at 390p, a premium of 40p. This, less commission, will be distributed to shareholders who did not take up their rights. The new funds will be used to pay for development programmes in Ireland and Britain, which are expected to cost more than £100 million. The issue was fully underwritten by the Investment Bank of Ireland.