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LAST UPDATE | 28 Jan
THE GOVERNMENT IS set to sell a further 5% of its stake in AIB for around €652 million and could exit the bank later this year.
The latest sale will reduce the State’s shareholding in the bank from 17.5% to 12.5%, according to a statement from the Department of Finance.
The state initially built up the shareholding in AIB after rescuing the bank following the 2008 financial crisis.
The Government plans to sell 116 million shares immediately to institutional investors. The actual number of shares sold will depend on market conditions, among other factors, the statement said.
Finance Minister Paschal Donohoe said the State has launched “a further sell down of its shareholding in AIB by way of an accelerated bookbuild (ABB) transaction”.
This is a process in which shares can be offered and sold in a short period of time, with little to no marketing or promotion.
Donohoe today said the State sold a 5% stake in AIB at a price of €5.60 per share, which will generate around €652 million upon settlement.
This will bring to around €17.9 billion the total amount returned to the State to date from its investment in AIB.
“This ABB transaction represents our sixth such disposal in AIB and will reduce the State’s shareholding in the bank by a further 5%,” Donohoe said.
Donohoe also said that any further stake in the company will not be sold for at least 90 days following this sale, without prior written consent by the joint bookrunners.
He added that with each ABB transaction completed by the State, it has “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,” said Donohoe.
“Once again, this transaction was well received with significant demand from a large number of high quality international institutional investors.”
The state’s shareholding in AIB has been brought down from around 71% at the beginning of 2022 to 12.5% today, and Donohoe it is now a realistic target that the State could exit its position in AIB later this year.
Meanwhile, AIB Group Chief Executive Officer Colin Hunt, said the transaction is “another important milestone in the process of returning the State’s investment in the Group and a normalisation of the share register”.
He added that it will return more money to “Irish taxpayers to whom AIB is deeply grateful, for their support during the financial crisis”.
Rothschild & Sons is working with the Government as an independent financial advisor while William Fry and Allen & Overy are working as legal counsel to the Department on the sale.
-With additional reporting from Diarmuid Pepper
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Awesome to see
Well done Donald, you won bigly
@Lefty Cries: he’s not gonna ride you
@John Doe: pity
@Lefty Cries: All the paid shills are in utter meltdown. Brendan and Co. Waiting for extreme lefty “Tricia G” to roll out of bed and spout some nonsense today. Should be hilarious!
@Marvin Dollery: Tricia G has yet to make an appearance lol
@Marvin Dollery: these faceless commentators live in your head rent free
@John Doe: No JoJo, “Tricia G” loves itself a good lefty rant and to be a “rebel” for the dying cause. It’s over for ye.
@Lefty Cries: is Billy some sort of cuddly toy
@Lefty Cries: Tell us your name? No . Thought so
Of course Netanyahu is happy. And Putin and every other criminal in a position of power. A great day for misogynists and people who want to see the world burn. The fact there were so many votes to ‘punish’ Kamala while people were willing to let the crimes of an actual predator slide, sends such a chilling message to women. A dark day for humanity as one of least deserving and least capable humans takes power. The ramifications for the environment are harrowing. The Idiocracy was already here but now it’s been rubber stamped.
@SerotoninWars: what does it say about the last 4 years of a Democrat presidency when the people turned away from them
@SerotoninWars: hahahahahahahahaha
@SerotoninWars: What a truly cringeworthy, pathetic username. LOL
@SerotoninWars: lol
@Mick O’K: I don’t think it says as much about the Democrats as much as the power of propaganda and social media. Also the boiling frog syndrome aspect. Trump and his movement have managed to lower the bar to such an extent that many people simply don’t care about decency and character anymore. The Dems are far from perfect but the things people have let slide from Trump are jaw dropping. This is not a good person. To see a spoiled, narcissistic criminal with the dimmest view of women voted in, is just depressing. The message it sends is terrible. ‘Treat women with respect young men’ ‘Why bother? You can still be president.’
@SerotoninWars: “power of propaganda”? Really? The Dems and the legacy media painted Trump as a modern day Hitler, Project 2025, reproductive rights misinformation all day long everyday. The electorate didn’t buy what they were selling. The electorate were more concerned about the economy and immigration. Every ounce of propaganda was directed at Trump my friend and that’s plain to see
@SerotoninWars: whataboutery at its worst
@SerotoninWars: the JUGGERNAUT OF PEACE Still won’t turn his back on you …… Even the likes of you are welcome aboard the JUGGERNAUT OF PEACE
@Mick O’K: They didn’t need to use propaganda. All of the regressive, obnoxious, ignorant and bigoted statements and beliefs came proudly out of his own mouth. This is not a decent and humane individual. It’s a convicted predator with a long history of the worst behaviour and attitudes toward women. That’s before we get to his appeasement of the white power movement and total dismissal of legitimate peer reviewed science. He is the worst of us as a species.
@SerotoninWars: ye lost, deal with it lol
@SerotoninWars: dry your eyes, don’t worry about things you don’t understand
@SerotoninWars: the black men of America did agree with your white supremacy propaganda though. Turned out in force to vote Trump. You believed all the propaganda my friend
@SerotoninWars: The Israeli’s and Putin with all the dirt they have in him can do as they please now ,sad day for humanity.
@Mick O’K: Fair play for at least engaging in conversation. There’s a lot to unpack and there’s no question that the Dems got it wrong or misunderstood just how much people would be willing to let slide if it meant the possibility of Trump coming through on a small number of issues.
Surely even the Trump supporters can understand why some people might be deeply worried and hold a really dim view of him though? It’s not like this stuff has been invented by the pesky left. It’s his own words and actions. The idea that he is the best America has to offer is pretty depressing. Even if you are delighted he got in surely you can see why people are concerned. If he comes through and brings peace and prosperity I’ll be the first to admit it. I’m not juvenile and partisan enough to wish suffering on anyone for the sake of some childish point scoring against people I don’t know. Unfortunately nothing points to any of these upsides happening…
Trump loves Putin and will cut Ukraine adrift. He stated that he didn’t think Netanyahu was going in hard enough. This is on a population where children are obliterated on a daily basis. On a ‘selfish’ level his America First policy is bad news for Ireland. Never mind the ramifications and ripple effects of his economic policy on the rest of the world. And this is all before we get to the climate crisis. America has just left the room on that front which is a total disaster for all of us.
@Gerry Campbell: It really is. Just the optics of rewarding this kind of man and character is truly depressing. If Netanyahu was off the leash before, he will have no restraints now. A humanitarian disaster is somehow about to get even worse. Those poor defenceless children.
@SerotoninWars: They all see him as a weak leader..
@Tom Kelly: Very true. Highly egotistical people are easier to manipulate.
@SerotoninWars: I can’t get my head around women voting for him ,his own wife won’t stand beside him ffs..
@Gerry Campbell: Agreed. It’s dumbfounding. There’s always been a virulent strain of anti-intellectualism in the US. From creationism museums to an irrational mistrust of people who have educated themselves. It’s the most religious advanced economy on the planet too. On the ground it means people are happy to believe in things if it feels good. There’s a major lack of critical thinking skills when faith is viewed so favourably. People were given a bunch of catchphrases on a loop and it worked. Depressing.
@SerotoninWars: like my earlier post. It speaks volumes for the Democrats when the electorate kicked them out of the WH and now looks like the house and senate too. The dems had no idea what was keeping people awake at night. They pushed the project 2025 narrative for the entire campaign despite Trump constantly distancing himself from it. The public didn’t trust them, didn’t trust the media. They said he was a nazi and sexist yet Jews, women and black men came out in force. The Dems literally attacked white me throughout. Telling them Doug Emhoff and Tim Walz were pictures of masculinity! One with allegations of domestic abuse against him, the other guilty of stealing valour. Yet the media either didn’t cover it o brushed over it. Trump is Trump, does what it says on the tin
@SerotoninWars: Wow, that is some statement, reeks of arrogance dismissing over half the population of the USA as thick & incapable of intellectual thought. Part of the problem in the USA, here & EU, is that MSM & people like yourself cannot accept the Democratic vote of the people & you wish to install your Woke ideology on everybody against their will & when people push back against it, your ilk & the MSM label them as Thicks, Uneducated, Intellectually inferior, Misinformed, Racists etc, this is pushing normal people to vote extremes & this pushback has happened in the USA, here & in Europe. Our Referendums were the first pushback, I expect more, people have had enough of Neo Liberal Woke Ideology been rammed down their throat. I don’t like or support Trump but I respect their vote.
@SerotoninWars: your too mad
@SV3tN8M4: I saw many of them being interviewed and there was a real lack of intellect and critical thinking on show. They parroted every lie and were willing to believe a proven liar over people who had only been honest their whole lives. When people vote for a man of such low character and buy the propaganda and lies emanating from a bunch of self-interested billionaires who are going to make things infinitely worse on so many levels – how exactly do you frame it? I do think many of them are completely lacking upstairs. They have foisted a deeply amoral and destructive man on the world. Again. If that sounds dismissive, so be it.
Also can you not see the irony in accusing people of not accepting democracy? There’s only one side who bought the ‘stolen election’ nonsense and tried to stop democracy in its tracks. The same gullible fools who buy every other lie that comes out of his mouth. I do have a poor view of people who support dishonest predators, ape their language and do their bidding.
I have zero interest in pushing ‘woke ideology’. I do have an interest in having honest people with good intentions and a healthy respect for facts and science, in powerful positions. Trump is a disaster for humankind as a whole. Look at the people who are happy with this result. Tells you all you need to know.
@tara tevlin: It’s ‘you’re’, Tara.
I look forward to all this peace that was promised.. Ukraine sorted by tomorrow.. one day .. one phone call.. he repeated ad nauseam. I hope I’m wrong of course, but something tells me this is just the 1st of the 1000s of lies he told to get elected.. we’ll see.. I’ll tune in tomorrow to find out.
@Brian: the only consolation is Trump has never yet managed to achieve anything he’s promised.
@Dermot Blaine: But Trump was still an agent of chaos that caused much suffering and death.
@ItWasLikeThatWhenIGotHere: But but but but.. Butthurt LOL
@Marvin Dollery: all the non Trump supporters engage in conversation and all the Trump supporters name call..
@Brian: zelenaksy was ready to make a deal in Istanbul, until borris butted in. Ukraine is easy. Get rid of the CIA planted Ukrainian administration and it’s over.
Why are the comments closed on Simon Harris congratulating Trump?
@Ann neylan: Because he shouldn’t have done it. Trump has not been officially declared winner as of 11:am UTC 06/11/24.
@Ann neylan: Trump has been telling countries close to hostile threats to build up their defence and not depending on US taxpayers defending them. The developments in Ukraine and Israel have proven him correct.
The house, the senate, the popular vote, AND THE RETURN OF THE PRESIDENT OF PEACE—— champagne for breakfast in my place!!!!!!!!!! That JUGGERNAUT OF PEACE Sure had some serious momentum up …….. those attempted assassin attempts only increased the speed!!!!! 12 beautiful safe years for the world BEGIN TODAY
@Frank Mc Carthy: it’s wonderful, Frank
I don’t personally like Trump or support him, but he has been democratically elected by the American people. Lots of commentary from Ireland calling half the people in the USA thick & uneducated, dismissing that this was a democratic vote. It seems that many on here believe that their ideology dominates everyone else & they have the right to impose it on everybody else, the Irish MSM are of the same ideology. RTE’s reporting was so bias it was scandalous, y’day they played haunted Halloween type background music to clips with Trump ? We depend on the USA & Trump could punish us now by bringing all the FDI profits home, citing the Irish MSM & people like Roderic O Gorman interfering in their politics by backing one candidate.
@SV3tN8M4: Totally agree the leftie media and their strange agendas are a huge risk to our country and need investigating
Come on out “Tricia G”, give us your saltiest, leftiest take on matters. LOL
Recession incoming.
@Dermot Blaine: Swamp draining incoming.
@Marvin Dollery: was he not supposed to do that last time?
@Dermot Blaine: scaremongering nonsense
@Lefty Cries: you think his tariff plan won’t cause recession? Or that his plan to print money won’t increase inflation again? Vast majority of economists wouldn’t agree with you.
@Dermot Blaine: will it be 40 year highs of inflation like Biden created
@Mick O’K: You know well enough that is was Trump that caused that inflation.
But you cannot help yourself telling the same lies over r and over,just as Goebbels taught.
@Dermot Blaine: vast amount of economists said Ireland would have a soft landing back in 2008, ya lemon lol
@ItWasLikeThatWhenIGotHere: the fact you’re still post links is hilarious. Every poll you posted or made mention off was so off it’s even funnier than you flipping out today. None of your links/polls are credible
@Lefty Cries: don’t have to be an economist to see his plan of abolishing income tax and replacing it with tariffs is bonkers.
Zelensky should be pleased. The Donald said that he would end the invasion of Ukraine with a single phone call.
@Ian McDonald: Donald’s way of ending it will favour Russia in every way. Zelensky should have spent the last few months trying to negotiate a peace deal which would have benefits and negatives for both countries. Instead he was peddling his ” victory plan” that none of his allies would support. Ukraine is now in a seriously back place
@Ian McDonald: This is the last thing Zelensky wanted. His begging bowl will run empty.
@Ian McDonald: it will be one phone call… Putin your free to nuke buddy…
Brilliant to see all the usual heads out congratulating President Donald Trump. A few hypocrites on the mix though. Anyway, The Don won! Salty tears for four more years!
Netanyahu is the modern day hitler genocidal is best way to describe him he needs to go d i e
@Happy As Larry: Nope, that would be Sinwar and Nasrallah and they have died thanks to Bibi’s strong defence of his country. Just the Ayatollah to go and there will finally be a chance of peace. Have you said anything about Erdoğan destroying Kurdish cities recently? The UAE supported RSF commiting actual genocide in Sudan, lining the populace of cities up and shooting men, women and children. No? No Jews no news?
Thank you for helping us slaughter even more children…is what nethenyahu is really thinking.
I too congratulate the new president.
Now I just sit back and watch him destroy the USA and say ‘told you so’ to all his brainless followers.
Putin should be emboldened to push further into europe. Baltics next i fear. Will be interesting to see how the presidency kicks off in jan.
@bruce banner: Normally I think you’d be right, although Putin might aim for Norway’s Arctic or Moldova first.
But the Ukrainians have wreaked havoc on his war machine. And his economy.
Most of the armanents Russia had at the start of this war of theirs has been destroyed.
The Russians still have a lot, but must need to be aware of threats to their extensive Asian borders. China has already taken control of Russian territory in the Far East.
Russia had already been reduced to begging for munitions from North Korea and Iran. Now it has North Korean troops fighting Ukrainians.
On the economic front, the Russian Central Bank has had 2 interest rate increases recently, first from 18% to 19%, and then to 21% soon after. Can you imagine a business or ordinary person trying to survive with that?
The reason being the (official) inflation rate of 9%. (Economists believe the true rate to be in the 20%.)
Fully 41% of Russia’s budget is now for its warring. It has had to spend its available reserves to fund its budget deficits. At the current rate it seems that it might be broke by this time next year or earlier.
Half of Russian’s population is now at or below poverty levels, due to high inflation and state social spending being diverted to its war.
If matters were to continue as it had been, then it is possible Russia would simply have collapsed, just as The Great War came to an end by the collapse of the German Home Front, not on the battlefields of France and Belgium.
And just as Russia’s loss to Japan in the Pacific war just after the turn of the 20th Century led to the Russian revolution of 1905, just as Russia’s loss in WWI led to the revolution of 1917, just as Russia’s loss in Afghanistan led to revolution, there is hope that Russia’s loss to Ukraine might see the end of the tyrant.
But now we have Trump.
Who will most likely do all he can to ensure a victory for the tyrant and practically guarantee future European wars.
I can’t tell the difference anymore between Ukraine and Israel when it comes to war crimes
@Lewis Armstrong: being ignorant and then boasting about it is not a good look
Well that’s our taxes through the roof when he pulls FDI out and our cookie jar shrinks..
Oh and another push for a border on the island…
My only 2 worries
@MN: the house, the senate, the presidency AND the popular vote….. its a BEAUTIFUL DAY. S’funny but when I turned on radio this morning…… Eurythmics…. ‘ I saved the world today’….. how appropriate is that?????
God help Ukraine and Gaza because Trump wont
Netanyahu and Zelensky, two great leaders and two great men. Hopefully they can encourage Trump to take a more forceful stance against Iran and Russia in his second term. Trump now has a blank slate to work with after four years of lacklustre foreign policy from Biden/Harris and with the Senate and the House now likely in Republican hands as well, let’s hope he uses this legislative power correctly and stays true to his promise last month to back NATO and not touch any of the funding that America sends towards it.
Child killers
12 years of republicanism ahead, hunker down everyone. Turbulent skies ahead.
@Maurice: Peace and prosperity ahead
Half of Americans want Authoritarian Government.
And it’s the half that yell FreeDumb.
Shower of turn coat, 2 faced licks.
Zelensky must be bricking it now,he’ll have to spend some of his own billions funding for war now
Conversation went something like this: Donald, this is terrorist war criminal satayahu, is it ok if we keep murdering children in Palestine and Lebanon. Trump: you betya
How anybody in America thought by voting Trump would be better for the middle east is living in cloud cuckoo land same goes for Ukraine I could go on the voting public in America have the memory of a gold fish
@Gavin Clifford: the economy and the border were the major issues Gavin. They also want more money in their pockets, cheaper groceries cheaper gas at the tank and affordable homes. They don’t like their tax dollars going to other countries while they’re struggling
Ww3 .will be next now. But we’ll done to our harris for congratulating. The big orange
Ohh here comes the lick arsing now. A hell of a lot of brown tongues on the way from all over the world. And our ducky is quacks away happily. Because he has everyone where he wants them.
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