|
AIB Group PLC- Dublin-based bank - The Irish government further trims its majority holding in AIB, selling a 5% stake, Minister for Finance Paschal Donohoe announces. Ireland now owns 57% of the lender, down from 62%. Goldman Sachs International, Goodbody Stockbrokers and JP Morgan Securities act as joint bookrunners for the placing. Shares are sold at €2.96 each, raising €396.6 million for Irish taxpayers. The money will be passed from the Ireland Strategic Investment Fund to the Irish exchequer. Dublin won't sell any further shares for at least 90 days, or for 60 days under its trading plan.
AIB Chief Executive Officer Colin Hunt says: "We very much welcome the decision and subsequent transaction undertaken. It is another important development in the process of returning the state's investment in the group and a normalisation of the share register. AIB owes the Irish taxpayer an immense debt of gratitude for its support during the financial crisis."
The Irish government stepped in to buy a stake in the company in 2009 amid the global financial crisis. The state pumped a total of €29.4 billion into AIB, Bank of Ireland Group PLC, and Permanent TSB Group Holdings PLC over 2009 to 2011. In September, Dublin sold its remaining 14% stake in Bank of Ireland, returning that lender to full private ownership.
Current stock price in London: 266.20 pence, down 2.4% early Tuesday
12-month change: up 29%
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
