DUBLIN, June 23 (Reuters) - Ireland raised 3 billion euros ($3.35 billion) on Friday via Allied Irish Banks’ (AIB) return to the stock market, selling a quarter of the state-owned bank at 4.40 euros per share in one of the largest bank listings since the financial crisis.
AIB’s initial public offering is the biggest test yet of investor appetite for a banking sector that required the euro zone’s most expensive state rescue less than a decade ago. Ireland’s finance ministry said the offer was more than four times oversubscribed.
“The successful completion today of AIB’s IPO represents a significant milestone,” Finance Minister Paschal Donohoe said in a statement.
“The offer was very well received and attracted high demand from investors everywhere it was marketed, reflecting the strength of AIB’s investment story and prospects, and the attractions of Ireland’s vibrant and growing economy.” ($1 = 0.8955 euros) (Reporting by Padraic Halpin. Editing by Jane Merriman)