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AIB's last day of ISEQ trading

AIB - Has seen its value plummet in recent times
AIB - Has seen its value plummet in recent times

Today marks the last day of trading for Allied Irish Banks on the main market of the Irish Stock Exchange. The bank will also delist from the London Stock Exchange.

The now part-nationalised bank has been listed on the ISEQ since 1967.

Tomorrow, its shares will be traded on the Enterprise Securities Market, which is best known for trading small mining and exploration companies.

It is designed for companies worth more than €5m, with no minimum number of shares held in public hand.

Other names there include Ormonde Mining, Karalien Diamonds and a company which, among other things, hires scaffolding.

Just a few years ago, AIB was worth €24bn and vied with Celtic Resource Holdings for the position of Ireland's most valuable company.

Last night the company was worth €286m, with a share price of a little over €0.26.

The listing downgrade was ordered by the High Court before Christmas when Minister for Finance Brian Lenihan used new emergency banking powers to inject €3.7bn into the bank from the National Pension Reserve Fund.

The State will own 92% of the bank very shortly.

A further €6.1bn must yet be injected over the next few months to boost its strength and continue, as Minister Lenihan described it before Christmas, to be 'an indestructible part of the Irish banking landscape.'