Last month’s Euronext debut by GDL Management Group, the Irish property Reit run by former racehorse trainer Kahlil de Burca, was met with some surprise. Listings have been few and far between on the Dublin stock exchange, and this one was unusual. Backed by a Kuwaiti investor, the real-estate investment vehicle floated at an initial share price of €134.50 on August 31, giving it a market value of €134.5 million. But, as The Irish Times reported at the end of its first week, no shares changed hands. De Burca, a corporate financier whose chequered business fortunes include more than one…

Want to continue reading?

Get unlimited access to The Currency and The Wall Street Journal with an annual membership – and receive a free, signed copy of Vincent Browne’s new book, Charles Haughey: Glory, Greed and Guns, delivered straight to your door.

Subscribe

Cancel at any time.

Are you already a member? .