Allied Irish Banks ISE/LSE IPO

Overview:

• Nationalised lender Allied Irish Banks (AIB) is undertaking its IPO on the Irish and London stock exchanges in a deal which could raise as much as €3 billion. 
• Ireland's government, which owns 99% in AIB, is selling more than 25% of the bank through the IPO as the state looks to recoup cash invested in the lender during a post financial crisis bail-out. 
• Shares are being offered at price range of €3.90 to €4.90, giving the bank a market cap between €10.6 billion and €13.3 billion.
• AIB's IPO is set to be the biggest on the LSE since Glencore's in 2011. 
• Bank of America Merrill Lynch, Deutsche Bank and Davy are acting as joint global co-coordinators and joint book-runners.
• Citigroup, Goldman Sachs and JP Morgan and UBS are joint book-runners.
• Investec is co-lead manager.
• Rothschild is acting as financial adviser to the department of finance.
• Morgan Stanley is the UK sponsor and Goodbody is acting as Irish sponsor.
• Final pricing is expected on June 22 and AIB shares should begin trading the following day.  

Katrin Kostadinova - Data analyst

Read further analysis of this deal on IFLR.com