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AIB further narrows IPO price range to 4.30-4.50 euros
June 21, 2017 / 5:28 PM / in 4 months

AIB further narrows IPO price range to 4.30-4.50 euros

DUBLIN, June 21 (Reuters) - Allied Irish Banks’ (AIB) has further revised the price guidance for its stock market listing to between 4.30 euros to 4.50 euros with order books covered throughout the range, the bookrunner on the deal said on Wednesday.

The price range was narrowed to 4.20 euros to 4.60 euros on Tuesday when order books were covered in the upper half, indicating that the Irish government was set to net at least 3 billion euros from the sale of a 25 percent stake.

The bookrunner said on Wednesday that it expected retail investors would be allocated 10 percent of the deal. Order books for institutional investors will close on Thursday at 1100 GMT with trading in the state-owned bank set to commence on Friday. (Reporting by Padraic Halpin; Editing by Elaine Hardcastle)

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