AIB's 22pc stake in M&T is understood to have attracted "strong institutional interest" with the underwriters not called upon to mop up excess shares. The bank last night announced it had completed a public offering of notes that can be exchanged for its M&T stake. The sale, which will generate a capital boost of €900m for AIB, was being underwritten by Citigroup and Morgan Stanley. It is understood that the investment banks were not called upon to buy up notes the market didn't want.
Betfair to open data centre in capital
UK-based online gaming business Betfair plans to open a data centre in Dublin and to move some staff from the UK to allied operations roles in Dublin as well as recruit locally. It does not plan to move its head office to Ireland. The UK company is in the middle of a £1.48bn (€1.69) IPO and already has an office in Ireland. Talks between the company and UK staff affected have already started. The company told the Irish Independent it hoped to have the new centre up and running in Dublin in the first half of next year.
Job placements show rise of 55pc
Recruitment firm Sigmar said job placements were up 55pc over the past three months compared to the same time last year. Sigmar said the latest data meant the number of job placements had now risen consistently for 12 months. Sigmar director Robert Mac Giolla Phadraig said the latest data reflected "rightsizing" by companies that overcut staff numbers in 2009. Recruitment is massively weighted to Leinster, which took almost one-in-four new jobs; and the hi-tech and export sector are the main engines of growth. Multinationals and large corporates are behind a 36pc increase in the number of permanent jobs.