Allied Irish Banks could be valued at US$14.9 billion in IPO

London

THE Irish government on Monday announced a price range for Allied Irish Banks that could value the bank as high as US$14.9 billion when it goes public this month - seven years after it was nationalised.

The initial public offering (IPO) is an important milestone in the recovery of the Irish banking system, which nearly bankrupted the country after the financial crisis of 2008.