Tetrarch Capital is reportedly lining up a stock market listing to raise capital for several of its property developments, including work at Co. Dublin's Citywest Hotel, of which the investment group took ownership in 2017.
Sources for The Irish Times have discovered that Tetrarch is eyeing an initial public offering of shares in the autumn and is expected to list in both Dublin and London. While the figure that the group is aiming to raise is currently unconfirmed, it is thought that it could be between €200 and €300 million, with the move being pursued to raise funds for Tetrarch's various projects as well as to offer investors a potential exit event.
Development projects on Tetrarch's agenda at present include a €35 million expansion of Dublin's Dawson Hotel, while the group has also put together plans for the development of a 158-bedroom hotel at Sackville Place in close proximity to the capital's O'Connell Street.
Other properties currently under Tetrarch's ownership include Kilkenny's Mount Juliet Hotel, Enniskerry's Powerscourt Hotel, Dublin's Marker Hotel and the Killashee Hotel of Co. Kildare.
© 2018 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.