Minister for Finance, Michael Noonan T.D., announces part flotation of Allied Irish Banks (AIB)
At 2100 IST this evening, 30 May, the Minister for Finance, Michael Noonan T.D., announced his Intention to Float c.25% of the Irish government’s stake in Allied Irish Banks (AIB). The Minister has decided that “the strong progress made by AIB and current market conditions” mean that now is the right time to commence the process of the Irish State reducing its 99.9% ownership of AIB.
AIB shares will be listed on the Irish Stock Exchange and on the London Stock Exchange. The AIB IPO Prospectus and price range are expected to be published in mid-June. It is expected to be one of the largest UK Main Market IPOs of the last 20 years.
The ITF announcement is attached. Please do call me if you have any questions or would like to discuss.
30 May, 2017
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