Business

Thursday 21 September 2017

Shares in AIB rise State sells 25pc stake

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Independent.ie Newsdesk

Independent.ie Newsdesk

AIB shares have shot up, after the Government sold a 25pc stake in the bank today.

Banks running the sale for the State took the opportunity to sell an additional 3.75pc of the lender, in what’s known in the markets as a green shoe. It means the Exchequer will take in €3.4bn in cash, in all.

The shares shot up by as much as 7.6pc to €4.73 each in the wake of the initial pricing as some investors who missed out in the original auction bought stock.

“Interest has been strong this morning,” said Stephen Hall, an analyst at Cantor Fitzgerald LP in Dublin. “It’s early days but so far trading has had a positive start.”

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