AIB to overhaul capital structure, sale looks more likely next year
AIB is expected to overhaul its capital structure, possibly before the October Budget, despite the date of a sale being pushed back to next year.
At an event In Frankfurt, Germany last night junior finance minister Simon Harris said the planned sale of a stake in AIB “won’t happen this year and is not likely before next summer.”
The comments go even further than Michael Noonan who has indicated a sale is unlikely this year as previously planned.
However, Ryan McGrath of brokers Cantor Fitzgerald in Dublin said he expects that AIB will reorganise its capital structure this year, and possibly in advance of October Budget.
A capital reorganisation will include consolidating AIB’s currently massive number of shares as well as potentially swapping debts owed to the State for new shares.