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Ireland holding open possibility of Allied Irish Banks IPO in 2017

Published 10/11/2016, 17:27
Updated 10/11/2016, 17:30
© Reuters. A gardener mows the grass outside the headquarters of AIB on the day the bank announced it's results, in Dublin
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DUBLIN (Reuters) - Ireland will hold open the possibility of selling a 25 percent stake in state-owned Allied Irish Banks (I:ALBK) next year with any sale depending on market conditions, Finance Minister Michael Noonan said on Thursday.

Earlier this year Dublin pushed back the likely timetable for partially cashing out its 21 billion euro investment in the 99 percent state-owned bank to 2017 but Noonan cast doubt last month on whether that would be achievable.

© Reuters. A gardener mows the grass outside the headquarters of AIB on the day the bank announced it's results, in Dublin

"On AIB, I'm asking them to continue the preparatory work. There'll be no IPO in 2016, but I'm holding open the possibility of an IPO sometime in 2017 but that will depend on the advice I receive and on market condition," Noonan told parliament.

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