Irish government hails flotation of bailed-out AIB bank

The government of Ireland described Friday an "important milestone" as it included the Irish allied banks, six and a half years after saving the lender with billions of euros of money Of taxpayers.

Dublin has confirmed the sale of 25% AIB at 4.40 euros per share – mainly from institutional investors – worth approximately 3.0 billion euros (3.3 billion dollars).

The shares were launched on the Dublin and London stock markets, while the bank was valued at more than 12 billion euros according to the initial transactions that saw the price of the action Increase by almost seven per cent to 4.69 euros in the Irish capital.

AIB shares are also traded in London, which has experienced the largest flotation for nearly six years since an initial public offering for the giant Glencore based in Switzerland.

In December 2010, at the height of the global financial crisis triggered by the collapse of the property market two years ago, Irish taxpayers terminated AIB at a cost of 20.8 billion euros.

Enrollment in part "represents an important step in the government's long-term policy of disposing of our banking investments, sending them back to the private sector over time," said the Iranian Minister of Finance, Paschal Donohoe, Friday.

Ireland 's finance department said Friday' s offer was 4.5 times oversubscribed, while some major investors have the option to buy an additional 3.8% of stock AIB.

"The level of interest and support of the investor is an excellent vote of confidence in the strength of the bank's recovery and economy as a whole," said Bernard Byrne , Director general of the AIB, describing it as "a historic day".

The government has declared its intention to use the proceeds of the sale to pay a small part of its national debt of 200 billion euros, which ranks among the highest in the euro area.

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