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.
The articles are for information purposes only and Invest for Property shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.
Invest for Property does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.
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.
Please remember that investments of any type 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.