March 7, 2017 / 2:34 PM / a year ago

Ireland examines potential retail offer in AIB IPO plans

DUBLIN (Reuters) - Ireland’s finance ministry is looking at potentially including a retail offer in a planned initial public offering of state-owned Allied Irish Banks (AIB) that could be launched by May, it said on Tuesday.

Finance Minister Michael Noonan, who said last week that the government would select co-lead managers and bookrunners to help with a potential sale of a 25 percent stake in the bank, said his department was working to ensure that a sale could proceed at any time from May in an update provided to cabinet.

“While the details of any retail offer remain to be decided, the Minister noted that it was likely that interested retail investors would be able to apply for shares through designated intermediaries or brokers, that a minimum investment threshold will be considered, and that potential retail investors would not be offered incentives to participate,” the department said.

Reporting by Padraic Halpin. Editing by Jane Merriman

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