Explainer: Who is buying AIB shares as the government reduces its stake?

Professional fund managers are snapping up shares, citing a lack of competition and solid earnings

AIB: Bank shares have risen 31.9 per cent in the past 12 months to trade at €4.13 on Tuesday afternoon. Picture: Aidan Crawley

AIB shares are continuing to change hands as the Irish government has sold down its stake in the bank. Waiting in the wings are professional asset managers seeking to snap them up - excited by the lack of competition and the benefit of high interest rates.

The government sold 131 million shares in AIB on Tuesday morning for €515 million. The move has seen the state’s stake reduce to 40.8 per cent, down from the ...