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The state's stake will go from 45.8% to 40.8%. Alamy

State intends to continue the reduction of its stake in AIB, dropping it to 40%

The state is going to sell 5% of its shares in the bank, finance minister Michael McGrath announced.

THE STATE HAS announced it will sell 5% of its shares in AIB, taking its stake from 45.8% to 40.8%. 

An initial 71% holding in AIB was built up after the state rescued the bank, following the 2008 financial crisis. Towards the end of 2021, then-finance minister Paschal Donohoe said most of the shares will be sold over a number of disposals.

Today, finance minister Michael McGrath announced the intention of the state to sell 131 million shares in the bank, worth 5% of its holding.

In June, another 5% disposal led to the state’s stake in the company falling below 50% for the first time since the financial crash in 2008.

As is protocol, the Minister will not arrange for the sale of any further AIB shares for another 90 days.

The state will sell off these shares through “a placing” – the sale of securities to a group of institutional investors, which is expected to raise close to €500 million, based on prices at the time of publishing.

The scheme to sell off these shares was announced in December 2021, with it being extended three times since.

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    Mute Christine Paulette Roche
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    Jul 29th 2017, 8:03 AM

    Heartbreaking, may he rest in peace.

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    Mute Charles Williams
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    Jul 29th 2017, 9:35 AM

    @Christine Paulette Roche: Yes his suffering is now over thankfully. The bigger story here is 7000 children are dying every single day from hunger but it’s met with a defending silence, no Pope, no US President seem to notice, care of comment and the media, not interested. So it’s amazing how one child with little chance of survival could solicit such support while the other 7000 others who could survive were ignored.

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    Mute joanne murphy
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    Jul 29th 2017, 10:27 AM

    @Charles Williams: oh be quite, this is about one little boy. Not a political / social statement. Sleep tight little Charlie xx

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    Mute sue
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    Jul 29th 2017, 10:45 AM

    @Charles Williams: not the time or place Charles

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    Mute Ryan Carroll
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    Jul 29th 2017, 11:23 AM

    I think we should let the Charlie story rest now, there is something that just does not sit right in me debating it anymore, it feels wrong. The childs health is no longer something that can be affected by the debate so it would just become a cheap ego contest over who was “right” when really this was not about who gets proven right or wrong.

    It is however appropriate to call out the hypocrisy of many of those, especially in the US, who complained about “socialized healthcare” not keeping him alive when they have the only developed country where you can go bankrupt from medical expenses. Thanks to McCain it won’t happen but they were 1-2 votes away from 32million people loosing their health insurance and it was calculated to cause thousands of deaths, including kids.

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    Mute gerry fallon
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    Jul 29th 2017, 8:10 AM

    There really are no words fitting.
    That poor couple will take a long time to get over Charlie’s death.Its time now to leave them to grieve in their privacy.I hope the Journal and other media just move on now.

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    Mute Frank Dubogovik
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    Jul 29th 2017, 8:26 AM

    For such a short life there was so much love packed into it….rest now little fighter.
    R.I.P.

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    Mute Margaret Henry
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    Jul 29th 2017, 8:37 AM

    Their real journey starts now . Thank God little Charlie is at peace and no longer suffering . RIP

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    Mute DaisyChainsaw
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    Jul 29th 2017, 11:22 AM

    @Margaret Henry: Sure it was god’s will that he suffer in the first place.

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    Mute JeanieD
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    Jul 29th 2017, 11:48 AM

    @DaisyChainsaw: Troll sick one at that.
    RIP little boy and may your grieving parents find comfort and solace in the knowledge that so many people truly cared.

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    Mute DaisyChainsaw
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    Jul 29th 2017, 12:38 PM

    @JeanieD: What’s trolling about it? If god is going to be thanked for relieving Charlie of his suffering, then he has to be blamed for giving Charlie the fatal disease to suffer in the first place.

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    Mute Catherine Sims
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    Jul 29th 2017, 12:57 PM

    @DaisyChainsaw: Let it go. If you understood the Theology around suffering you would know that what you say is not the case. Regardless let people express their condolences in the manner that they see fit. If religion brings them solace it’s no skin off your nose. The one thing I do know that it’s not possible to expect tolerance if your give it. I’m not religious but I’ve made an effort to try to understand where they are coming from. The baby has died and it’s time to move on.

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    Mute Catherine Sims
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    Jul 29th 2017, 12:58 PM

    @Catherine Sims: * if you don’t give it* that should have read.

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    Mute Liam Whelan
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    Jul 29th 2017, 1:24 PM

    @Margaret Henry: This god you speak of, if you thank him for letting Charlie be at peace now then who do you fault for him having this disease in the first place? It certainly wasn’t the parents who placed this disease upon him so does your god take full responsibility for it? And if so can he tell you as to why he done it? Because I would love to know why any “all loving” person can do things like this to innocent children day in day out. I think you know what you can do with your “thank god”.

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    Mute Margaret Henry
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    Jul 30th 2017, 1:12 AM

    @Liam Whelan:

    I lost a young child myself Liam Whelan . So I think I’m qualified to speak on this . When I said Thank God his suffering is over I meant just that .

    If you have watched your young child suffer in pain for months through operations and treatments you would thank God when it finally means they are no longer suffering even when that means they are no longer with you

    its not about you in all this it’s about your child who is suffering

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    Mute Celtic_Horizon
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    Jul 29th 2017, 8:31 AM

    RIP

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    Mute Tony
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    Jul 29th 2017, 9:43 AM

    Look after your parents now Charlie. Rest little one.

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    Mute Louise Dunne
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    Jul 29th 2017, 10:37 PM

    R.I.P. gorgeous little boy. Beautiful photo to treasure forever.
    That picture of him smiling up at his dad is haunting, i can’t equate that with all I’ve read about his condition. looking at that picture no wonder they were keen to try various treatments.

    9
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