Department of Finance initiates tender to select Bookrunners and Co-Lead Managers for potential AIB IPO

03.03.17

Department of Finance initiates tender to select Bookrunners and Co-Lead Managers for potential AIB IPO

The Department of Finance has today initiated a tender process to select Bookrunners and Co-Lead Managers to assist in a potential Initial Public Offering (IPO) of AIB. 

The appointment of the respective firms will be made following a mini tender competition involving the members of Lot 3 of the Department’s Capital Markets Distribution panel.  This panel was constituted following an open procurement procedure in 2014 and contains a total of twelve Irish and international firms. 

The successful companies will be appointed until July 2018 providing the State with optionality on the timing of any such transaction through 2017 and 2018.

In December last, the Department appointed Bank of America Merrill Lynch, Davy and Deutsche Bank as “Global Coordinators” to assist in a potential AIB IPO.  Rothschild was previously appointed as independent financial advisor to the Department for this project.

Earlier this week the Minister for Finance Michael Noonan T.D. said, the Full Year 2016 results published by AIB confirm to us that this is an appropriate time to consider an Initial Public Offering of AIB.  The proposed appointment of Bookrunners and co-lead managers is another preparatory step in that process.

ENDS

Friday 3rd March 2017 

Further information from:

David Byrne - Press Officer - pressoffice@finance.gov.ie - 086 026 7978

 

Notes to Editors:

Bookrunner & Co-Lead Manager:

The role of the Bookrunners & Co-Lead Managers is to assist with the marketing and sale of shares in AIB at the time of IPO. The rationale for selecting them in addition to the already appointed Global Coordinators is to ensure coverage of the broadest possible range of relevant investors both by type and geography.