By Michael Susin
Ireland’s Minister for Finance Michael McGrath outlined on late the intention to dispose around 5.0% of the Irish State’s shareholding in AIB Group.
The disposal will be undertaken through the placing of 132 million shares of the Irish bank, with the price yet to be determined, via an accelerated bookbuilding process which has been launched immediately.
Following the placing, the stake of the Irish State’s in AIB will be reduced to around 46.9% from around 51.9%.
Write to Michael Susin at michael.susin@wsj.com
Read the full article here