Business Irish

Sunday 28 May 2017

Department of Finance take next step in returning AIB to private ownership

AIB (Stock picture)
AIB (Stock picture)
Donal O'Donovan

Donal O'Donovan

The Government has fired the starting pistol on a stock market flotation of AIB, the biggest bank to remain in State hands after the crash

The Department of Finance has commenced a competition to appoint investment banks as ‘global coordinators’ as part of a banking syndicate to assist in a potential future Initial Public Offering (IPO) of AIB, it said.

The advisors will manage the sale of shares in the bank and will be appointed in the New Year, the Department said.

Its the first concrete step in what has been a long delayed move to reduce the State’s holding in AIB.

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