DUBLIN (Reuters) - Ireland’s initial public offering of Allied Irish Banks ALBK.I (AIB) remains on track after neighbouring Britain’s election and a price range will be issued in the next week or so, a spokesman for the finance ministry said on Friday.
Dublin launched its long-awaited sale of a 25 percent stake in the state-owned lender on May 30 and Finance Minister Michael Noonan said the price could be driven up if Britain’s ruling Conservative party won a strong majority in Thursday’s election.
“The transaction timetable was designed to cater for the UK election. We remain on track to issue a price range prospectus over the next week or so,” the spokesman said in a statement after the Conservatives lost their majority.
Reporting by Padraic Halpin; Editing by Elaine Hardcastle