Now has 25.5% vs 30.5% previously (Il Sole 24 Ore Radiocor) - Dublin, 27 Jun - The Irish state sold about a 5% stake in Allied Irish Bank (AIB) by around 5% at a price of 4.90 euros per share, raising 592.9 million euros, said Morgan Stanley, which was one of the joint bookrunners for the placing along with BofA Securities and Citi.

Upon settlement, this sum will be returned to the Ireland Strategic Investment Fund pending further consideration by the minister for finance.

The state cut its stake in the lender from 30.5% to around 25.5%.

The minister for finance has undertaken to the joint bookrunners not to sell further shares in the company for the period of 90 calendar days following the completion of the placing without their prior written consent.

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(RADIOCOR) 27-06-24 09:35:19 (0194) 5 NNNN