AIB in the spotlight as Ireland plans biggest London IPO of 2017

Dublin

THE Irish government fired the starting gun for the initial public offering (IPO) of Allied Irish Banks plc (AIB), laying out a plan to sell 25 per cent of the nationalised lender.

The government plans to sell the AIB stake in a share offering in London and Dublin, with terms to be set in mid-June, the country's finance ministry said in an emailed statement on Tuesday evening. According to previous government estimates, the sale may raise about three billion euros (S$4.64 billion).