The Minister for Finance Michael McGrath has today further extended AIB Group's share trading plan into a fifth phase.
So far, proceeds generated from phase four of the AIB trading plan amount to about €124.7m and the average price per share achieved is €4.23.
These proceeds will be returned to the Ireland Strategic Investment Fund pending further consideration by the Minister.
The trading plan has contributed to the State's shareholding in the bank reducing from 71.12% at the beginning of 2022 to about 40.8% currently.
In total, about €824m has been raised from the AIB trading plan since it became operational in January 2022.
The extension announced today will become operational in the coming weeks and will now end no later than July 23, 2024, unless further extended by Mr McGrath.
In line with the Government's commitment to deliver best value for the taxpayer, shares will not be sold below a pre-determined floor price, which the Department of Finance will keep under review.
Michael McGrath said the AIB trading plan has played an important role in enabling the State to gradually reduce its shareholding in the bank since it became operational, especially when opportunities for larger block trades were not available.
"As before, we will continue to look at other disposal options, should they present themselves," he added.
AIB shares were lower in Dublin trade today.
