The Irish government has decided to sell 25% of its 99.9% stake in Allied Irish Banks through an initial public offering (IPO).
The bank, which was bailed-out at height of 2010 financial crisis, returned to profitability in 2014. The bailout cost Irish taxpayers €21bn ($23.50bn).
Go deeper with GlobalData
The shares will be listed on the Dublin and London stock exchanges, which could be one of the biggest IPOs in recent years.
It is expected that the prospectus and the price range of the shares will be published in mid-June.
“We’re conscious of the British election and if there was a very strong majority in the UK for the Conservative it might drive the price up a little but we have a fairly good idea of the market now, it’s a very good market at the moment. IPOs are fashionable again,” Finance minister Michael Noonan told national broadcaster RTE.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
