This post was originally published on this site
https://i-invdn-com.investing.com/trkd-images/LYNXMPEIA7099_L.jpg
Dublin began gradually selling shares in AIB for the first time since a 2017 IPO at the start of the year through a share trading plan, and Monday’s placing marked the second time in five months it has sold a 5% stake in one go.
As a result of the placing, at 2.96 euros per share via an accelerated book build, the overall size of Ireland’s shareholding will be reduced from to 57% from 62%, Finance Minister Paschal Donohoe said in a statement.
The state’s stake stood at 71% at the start of the year.
Ireland pumped 64 billion euros ($64.2 billion), or almost 40% of its then annual economic output, into the country’s banks just over a decade ago following a huge property crash.
It sold the last of its shares in Bank of Ireland in September. Its stake in Permanent TSB (PTSB) is to fall to 62% from 75% after NatWest took a minority stake in the bank following the completion of its sale of 5.2 billion euros of Irish mortgages to PTSB on Monday.
($1 = 1.0009 euros)
