Michael Noonan announces expected sale price of AIB shares

The expected price of AIB shares has been announced by the Finance Minister Michael Noonan.

Michael Noonan says they should float at between €3.90 and €4.90 per ordinary share.

That values the bank at between €10.6 billion and €13.3 billion.

The government is selling off 25% of AIB, meaning it’s anticipated the sale will raise between €2.6billion and €3.3billion.

The flotation is due to take place on the Dublin and London stock exchanges on June 23.

The minimum investment amount for potential shareholders is €10,000.