AIB to Buy Back Around $550 Million of Shares From Irish Government
Provided by
Dow Jones
By Elena Vardon
AIB Group agreed with Ireland's finance minister buy back 500 million euros ($552.5 million) in shares from the government.
The Irish bank said Monday that it will buy 91.8 million shares at 5.445 euros each, the stock's closing price on Friday, from the Irish government. This represents around 3.8% of the company's issued share capital, it said.
"The transaction is another important milestone in the process of repaying the taxpayer for their support, enhancing liquidity in AIB shares and normalizing the share register," Chief Executive Colin Hunt said.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
September 02, 2024 02:49 ET (06:49 GMT)
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