Banking
AIB chief Colin Hunt hails ‘milestone’ as state’s holding falls below 50pc for first time since bail out
The Department of Finance disposed of approximately 5pc of the bank’s stock, for around €500 million
AIB has welcomed the government’s move to cut its stake in the bank to below 50 per cent for the first time since the bailout saying it is “a significant milestone“.
The Department of Finance disposed of approximately 5pc of the bank’s stock, for around €500 million given the banks current market capitalisation of roughly €10 billion.
The state’s stake will fall to 46.9 per cent after the sale.
Colin Hunt, AIB group chief executive ...