AIB narrows IPO price range, book covered at upper end


Reuters

DUBLIN, June 20 (Reuters) - Allied Irish Banks' (AIB)
<ALBK.I> has revised the price range for its stock market
listing to between 4.20 euros to 4.60 euros with order books
covered in the upper half of the new range, the bookrunner on
the deal said on Tuesday.
    The Irish government launched its long-awaited initial
public offering of AIB in May and last week set a price range
between 3.90 euros and 4.90 euros, planning to net between 2.6
and 3.3 billion euros from the sale of a 25 percent
stake.[nL8N1JA4YM]
    The pricing was revised after books were subscribed multiple
times within the initial price range, the bookrunner said. Order
books will close on Thursday with trading in the state-owned
bank set to commence on Friday, it added.

 (Reporting by Padraic Halpin. Editing by Jane Merriman)
 ((padraic.halpin@thomsonreuters.com; +353 1 500 1529; Reuters
Messaging: padraic.halpin.thomsonreuters.com@reuters.net))

Keywords: AIB IPO/ (URGENT)



This article appears in: Economy , 401k , US Markets , Stocks , IPOs , Retirement
Referenced Symbols: ALBK


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