Glenveagh Properties raised €500 million from its IPO on the Dublin stock exchange, RTE reported.

The publication reported the commencement of trading of Glenveagh's shares under a primary listing, with a €696 million market capitalization following conditional dealings from Oct. 10.

Glenveagh builds starter, midsize and high-end homes that include houses and apartments in greater Dublin.

The listing will make the company a scale provider of housing that can help address the shortage in supply, CEO Justin Bickle told RTE.

Glenveagh is the second homebuilder to list on the bourse following Cairn Homes Plc's admission to the exchange in July.