Press release
State’s shareholding in AIB reduces to c. 12.5% following further successful share disposal
Published on
Last updated on
Published on
Last updated on
The Minister for Finance Paschal Donohoe today welcomes a further successful disposal of part of the Irish State’s shareholding in AIB Group plc (“AIB”) by way of an accelerated bookbuild (“ABB”) transaction.
Commenting on the transaction, Minister Donohoe stated:
“As announced earlier today, the State sold a 5% stake in AIB at a price of €5.60 per share which will generate c. €652 million upon settlement, bringing to c. €17.9 billion the total amount returned to the State to date from its investment in AIB. With each ABB transaction successfully completed by the State we have achieved incremental improvements on the placing price while also managing to tighten the discount. This latest transaction achieved a price which was 14% higher than what was achieved in the previous transaction last June. Once again, this transaction was well received with significant demand from a large number of high quality international institutional investors.
"We have made significant progress in reducing the State’s shareholding in AIB from c. 71% at the beginning of 2022 to c. 12.5% today. It is now a realistic target that the State could exit its position in AIB later this year should market conditions allow.”
The State has now entered into a lock-up period of approximately ninety days before another ABB can be considered. A lock-up period of approximately thirty days applies for the now paused AIB share trading plan which has been extended by the Minister. The AIB share trading plan will become operational again following the applicable lock-up period and will run until 23 July 2025, unless further extended by the Minister for Finance.
Disclaimer
This press release is for information purposes only and does not constitute or form a part of an offer to sell or a solicitation of an offer to purchase any security of AIB in the United States or in any other jurisdiction where such offer or solicitation is unlawful. The securities of AIB described in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or any applicable state or foreign securities laws and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act. There has been no public offering of securities in the United States.