May 30, 2017 / 8:27 PM / 6 months ago

Ireland says strong election win by British PM could drive up AIB IPO price

DUBLIN (Reuters) - The pricing next month of Ireland’s initial public offering of Allied Irish Banks (ALBK.I) (AIB) could be driven up if Britain’s ruling Conservative party wins a strong majority in the June 8 election, Ireland’s finance minister said on Tuesday.

The Irish government launched its long-awaited initial public offering of state-owned AIB on Tuesday, offering a 25 percent stake in what is set to be one of Europe’s largest bank listings since the 2008 financial crisis.

“We’re conscious of the British election and if there was a very strong majority in the UK for the Conservative it might drive the price up a little but we have a fairly good idea of the market now, it’s a very good market at the moment. IPOs are fashionable again,” Michael Noonan told national broadcaster RTE.

Reporting by Padraic Halpin; Editing by Alison Williams

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