The Government has decided to put another 5 per cent block of shares in AIB on the market, in a move that will see its holding fall close to the 25 per cent level.
The trade is expected to raise in excess of €570 million, assuming it is priced at a 5 per cent discount to Wednesday’s closing price. It would bring the State’s total cash recovery to date on the bank’s €20.8 billion crisis-era bailout to €15.7 billion. Its remaining 25.5 per cent holding is currently worth €3.16 billion, which would leave taxpayers €1.94 billion under water on a cash in, cash out basis.Car parking at Dublin Airport is big business, so why has the sale of the unused QuickPark facility stalled?The Government has been selling down its stake since early 2022 on three fronts: dribbling small amounts of shares into the market; placing larger 5 per cent blocks on occasion; and participating in stock buy-backs by the bank.