Sale of shares earns Bank of Ireland €1.73 billion

BANK of Ireland, the country’s biggest lender by market value, has raised €1.73 billion in a share sale, boosting capital after losses surged.

Bank of Ireland sold 2.97 billion new shares, or about 95% of the securities on offer, it said yesterday in a statement.

The bankers managing the sale sold the remaining 168.6 million shares at 75 cent apiece, a premium of 20 cent to the rights offer price of 55 cent.