AIB has bought back another big tranche of its shares held by the State, which reduces the State's stake in the bank to about 32.6%.
AIB has bought back another big tranche of its shares held by the State, which reduces the State's stake in the bank to about 32.6%.The deal saw 198,233,951 ordinary shares owned by the Minister for Finance bought at a price of €5.0395 each. The shares represent about 7.6% of the bank's issued share capital.
"We are very pleased to return c. €1 billion to the State after reaching agreement with the Minister for Finance to buy back a further tranche of AIB shares, reducing the State's shareholding to 32.6%," AIB's chief executive Colin Hunt said. The Minister for Finance Michael McGrath said the completion of this latest share buyback transaction with AIB is another positive step for both the company and the State.
Mr McGrath said that significant progress has been made in reducing the State's shareholding in AIB from about 71% at the beginning of 2022 to about 32.6% today.
Business AIB Michael Mcgrath Bank State Colin Hunt
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
State reduces stake in AIB to 32.6% as lender buys back sharesTransaction will net another €1 bn for the Government, bringing to €14.9bn the total received from the bank since the bailout
Read more »
AIB mortgage share rises leaving top two banks with over 75% of marketLender reiterates it full-year net interest income coming to more than €3.65 billion, down from last year’s €3.84 billion as ECB rates seen falling
Read more »
AIB shareholder worries his holding may be too small for share buybackA loss on an asset you invested in can only be ‘crystalised’ when you get rid of it by sale or other transfer
Read more »
AIB shareholder worries his holding may be too small for share buybackA loss on an asset you invested in can only be ‘crystalised’ when you get rid of it by sale or other transfer
Read more »
Making sense of the numbers around AIB’s share purchase offerBank has offered to buy out legacy investors who were all but wiped out in the crash and now hold shares worth less than the cost of selling them
Read more »
AIB's first quarter income rises by 18%AIB said its total income increased by 18% in the first quarter of the year on the back of the higher interest rate environment and after what it called 'a very strong first quarter performance'.
Read more »