Irish real estate investment trust Yew Grove REIT plc is seeking dual admission of its shares on the Alternative Investment Market of London Stock Exchange and the Enterprise Securities Market of Euronext Dublin in May.

Following admission, the newly incorporated company will buy an approximately €25.9 million seed portfolio, which features 10 assets. Yew Grove said the portfolio's expected initial rental yield is about 10% as at March 31.

Directors of the trust disclosed a dividend target of 7 cents per ordinary share for the company's first full financial year starting Jan. 1, 2019.

Yew Grove intends to invest in commercial properties primarily located in Dublin.