Tuesday, November 24, 2020

Shares in Allied Irish open above IPO price in market debut

Shares in Allied Irish Banks (AIB) opened over 8 per cent higher in their market debut on Tuesday after the government sold a 25 per cent stake in a 3 billion euro (£2 billion) listing.

Shares opened at 4.76 euros (£3) in Dublin, above the initial public offering (IPO) price of 4.40 euros (£3.87). Shares also began trading in London where the deal was the biggest IPO by market capitalisation in almost six years.

The size of the IPO will rise to 28.75 per cent if demand proves strong following the debut, after the government included a greenshoe, or over-allotment, option. The increase would add another 400 million euros (£351 million) to state coffers.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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