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Irish finance minister 'very happy' with AIB IPO after books close
June 22, 2017 / 3:27 PM / 5 months ago

Irish finance minister 'very happy' with AIB IPO after books close

DUBLIN (Reuters) - Ireland’s finance minister said he was very happy with how the process of Allied Irish Banks’ (ALBK.I) (AIB) initial public offering had gone after order books on its sale of a 25 percent stake in the state-owned lender closed on Thursday.

Irish Minister for Public Expenditure Paschal Donohoe speaks during an interview with Reuters at the Ministry of Finance in Dublin, Ireland September 22, 2016. REUTERS/Clodagh Kilcoyne/File Photo

The price guidance for the stock market listing was narrowed to between 4.30 euros and 4.50 euros on Wednesday and the IPO’s bookrunner said earlier that orders below 4.40 euros risked missing out as it neared a final price.

“I am very happy with how the process has gone to date and I continue to work very hard to make sure that the return we generate from this disposal meets the objective of delivering best value for the taxpayer and becomes a very large milestone in how we begin to regain back the money the taxpayer put into our pillar banks,” Paschal Donohoe told a news conference.

Reporting by Padraic Halpin; editing by Susan Thomas

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