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AIB to sell shares to individual investors

By Gavin McLoughlin

Small investors are likely to be given the chance to buy up shares in bailed-out First Trust parent Allied Irish Bank when it is floated on the London Stock Exchange next year.

The Irish Government will probably sell AIB shares to individuals as part of the process of returning the bank to private ownership, AIB chief financial officer Mark Bourke has said.

Mr Bourke told Bloomberg that it was important that people were able to say they had access to shares if the bank does well.

He said shares would probably be sold to retail investors through brokers.

The Irish Government plans to sell a 25% stake in the 99.8% Irish State-owned bank, probably in the second half of 2016.

It has said it is confident that all of the €21bn (£15.5bn) of taxpayers' money used to bail the lender out will be repaid.

The bank's main listing is to be on the London Stock Exchange.

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