June 9, 2017 / 2:00 PM / in 9 months

Ireland says AIB listing remains on track after UK election

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.

FILE PHOTO: Chairman of Allied Irish Bank Richard Pym speaks at the Allied Irish Bank Annual General Meeting in Dublin, Ireland April 27, 2017. REUTERS/Clodagh Kilcoyne/File Photo

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

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