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Markets Live: Wednesday, 31st May, 2017

By Izabella Kaminska May 31, 2017 5:59 AM EDT

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The Minister for Finance of Ireland, Michael Noonan T.D. (the “Minister for Finance”, or the “Selling Shareholder”), and AIB, Ireland’s leading retail and commercial bank, today announce an intention to seek admission of the Company’s ordinary shares (“Ordinary Shares”) to the Official Lists of each of the Irish Stock Exchange and the FCA and to proceed with a secondary offering of Ordinary Shares by the Minister for Finance (combined the “IPO”, or the “Offer”).

The Irish State owns approximately 99.9% of AIB’s Ordinary Shares having invested c.€20.8 billion in AIB since 2009, €6.6 billion of which has already been returned in capital, fees, dividends and coupons. The Government’s policy has been to return its banking investments, including AIB, to private ownership over time in a manner which recoups the cost of the support for the benefit of the Irish public. Given AIB’s strong financial performance and current market conditions, the Minister for Finance has decided that the timing is now right for the Irish State to commence this process.


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