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Ireland raises 305 million euros by selling 5% AIB stake

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Reuters UK

DUBLIN (Reuters) – The Irish government has raised 305 million euros ($323 million) through the sale of a 5% stake in Allied Irish Banks (AIB) in an accelerated book build that cut its majority shareholding to 63.5%, the finance ministry said on Tuesday. Dublin has been gradually selling shares in AIB since the start of the year through a share trading plan, and announced on Friday that it has raised 161 million euros by reducing its stake to 68.5% from 71.1% over the past six months. The placing, which began after the market closed on Monday, was priced at 2.28 euros per share compared with a…

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