State to sell remaining shares in AIB
Minster for Finance
Paschal Donohoe
moved on Monday to sell taxpayers' remaining stake of about 3.3 per cent in
AIB.
The sale, being carried out by way of a placing among institutional investors, known as an accelerated bookbuild (ABB), is expected to raise about €480 million.
That takes into consideration an expectation that the shares will be sold at a slight discount to Monday's closing price of €7.01 in Dublin.
The move takes advantage of how AIB's shares have risen more than 31 per cent this year, having recovered from a sell-off across equities globally in April as investors fretted about
US President Donald Trump's
tariff
policies.
READ MORE
'This is an important milestone in delivering on the government's policy of returning the banking sector to private ownership,' said Mr Donohoe.
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