State could sell up to 40% of Permanent TSB

A clearer picture of how Permanent TSB will look post-restructuring should become visible in the next few weeks, management said yesterday.

Addressing media following the bank’s agm in Dublin yesterday, chief executive Jeremy Masding said that management will have met around 100 potential investors from Europe and the US by the end of this week.

However, he said the details won’t be known until all talks are concluded. He said the process was coming to a close however, but claimed it was still too early to say if the exact structure of the bank’s much-heralded capital raising plan will be realised via a fuller initial public offering, through a private placing of shares, or by private equity investment.