DUBLIN: The Irish government has described the sale of 28.75 per cent of its stake in Allied Irish Banks yesterday as a significant moment for the country’s economy.
The initial public offering, which raised €3.4 billion for the Irish exchequer, was among the biggest transactions on the London Stock Exchange over the past 20 years and the biggest of any kind in London by market capitalisation in nearly six years. The shares were floated at €4.40 after the price range had narrowed from between €3.90 and €4.60 over the past two weeks.
