Economic news

Ireland raises 3 billion euros in Europe’s biggest IPO

The Irish government raised about 3 billion euros by selling a 25% stake in the country's second-largest bank, Allied Irish Banks Plc (AIB).

679 million AIB's shares at 4.40 euros apiece were sold in Europe's biggest initial public offering this year on the Irish Stock Exchange in Dublin and the London Stock Exchange (LSE). The bank was valued at about 12 billion euros.

Ireland injected 21 billion euros of taxpayers funds saving the bank after a massive real-estate crash in 2009.



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