Government raises almost €515m from latest sale of 5% stake in AIB

The state has now raised €13.6 billion from share sales, dividends and other returns since its €20 billion bailout of the lender after the financial crash

Michael McGrath, the minister for finance, said the latest sale of AIB share represented a normalisation of the relationship between the state and the bank

The Irish government has generated almost €515 million from the sale of a 5 per cent stake in AIB, which reduces its overall holding in the bank to less than 41 per cent.

On Tuesday morning, the state placed 131 million AIB shares into the market by way of an accelerated bookbuild transaction, where the shares were sold to large institutional investors at a price of €3.93.

In total, the government raised close to €515 ...