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INTERVIEW-Ireland could sell more AIB shares after oversubscribed IPO
June 27, 2017 / 6:51 AM / 3 months ago

INTERVIEW-Ireland could sell more AIB shares after oversubscribed IPO

DUBLIN, June 27 (Reuters) - Ireland could sell more shares in Allied Irish Banks (AIB) after its oversubscribed initial public offering (IPO) left large funds keen to buy more, the bank’s chief executive said on Tuesday.

Ireland’s finance minister has said he will review a pledge to sell a maximum of 25 percent in any of its bank shareholdings by the end of 2018 after hitting the limit for AIB following the 3 billion euro ($3.4 billion) IPO.

“The opportunity is now stronger because they now know the demand is now there. It’s like all these things, never miss an opportunity if it’s there, at the moment the one thing the government do know is there is demand,” Bernard Byrne told Reuters in a telephone interview.

“Ultimately it’s their decisions but the one thing that has become more obvious is there is lots of demand right now and the Irish story works right now. Those things don’t always exists so if you wait for the perfect time, the market may not be there. The market is there right now.”

$1 = 0.8929 euros Reporting by Padraic Halpin; Editing by Mark Potter

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