Move reduces the State’s holding in AIB to 40.8%
Minister for Finance Michael McGrath has raised almost €515 million from the sale of a further 5 per cent stake in AIB as the State continues to claw back the bank’s crisis-era bailout.
The Minister has agreed as a result of the transaction not to carry out an additional AIB block share sale for at least 90 days or to resume regular drip-feeding of stock onto the market for at least 45 days. The Government has been selling down its stake since early last year on three fronts: dribbling small amounts of shares into the market; placing larger 5 per cent blocks on occasion; and participating in stock buybacks by the bank. The holding stood at 71 per cent in January 2022 before the sell-down programme began.
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