AIB IPO to raise €3.05bn

The State is set to recoup around €3.05bn when 25% of its near total ownership of AIB is sold off to stock market investors early next week. It is marginally more than was initially targeted.

The formal pricing of AIB stock, due this morning, was expected overnight to value the bank’s shares at around €4.40, giving the bank a market valuation of €11.9bn. The bank had indicated that offers below €4.40 risked missing out on shares.

The NTMA in February valued AIB at €11.3bn, although it had an estimated value of €12.2bn at the end of 2015.