AIB and Noonan focus on value to taxpayer

Allied Irish Banks as well as its Government owner yesterday put the focus on how much the bank will be worth in an impending shares sale.

Michael Noonan hinted last month that the sale of AIB shares in an IPO — meant to return a substantial part of the €20.6bn Irish taxpayers directly injected into the bank during the crisis — would be held sometime early next year.

Though likely to be after the election, AIB’s IPO is guaranteed to feature as a burning issue during the election campaign itself.