The Government has sold a 5% stake in AIB Group, lowering its holding in one of the country's two remaining partly state-owned lenders to 41% and raising €515m.
The accelerated placement at €3.93 per share compared with a price of €3.64 per share the last time the Government sold a similar sized chunk of its shares in June.
"This transaction represents our fourth such disposal in AIB and with each one we have achieved incremental improvements on the placing price, with this latest transaction achieving a price which was 8% higher than what was achieved in the previous transaction in June," Michael McGrath said in a statement today.
"While the State remains a significant shareholder in AIB, this is another important step in normalising the relationship between the State and AIB with the free float in the bank now increasing to 59.2%," he added.
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