London Stock Exchange welcomes AIB to the Main Market
- Allied Irish Banks raises c. €3 billion in successful IPO
- Largest EMEA IPO to date in 2017
- Over 40 Irish companies listed on London Stock Exchange with a combined market capitalisation of almost £150 billion
- Unconditional trading begins in London and Dublin today
London Stock Exchange today welcomes Allied Irish Banks plc (AIB), Ireland’s largest retail and commercial bank, to the Main Market following the company’s successful IPO. Raising around €3 billion, before the exercise of the secondary greenshoe, it is the largest IPO from EMEA to date in 2017 and gives the bank a market capitalisation of almost €12 billion. AIB’s shares will trade in Dublin and in London enabling the company to access a broad base of international and domestic investors.
London is sits at the heart of the global banking sector and is home to over 780 companies in the Financials ICB sector with an aggregate market capitalisation of over $1.2 trillion. Within this, 55 major international banks have a listing in London.
Nikhil Rathi, CEO of London Stock Exchange plc said:
“We are delighted to welcome Allied Irish Banks back to London Stock Exchange following its successful IPO, which represents a major milestone in the Bank’s restructuring since the financial crisis. 55 major international banks, with significant operations in more than 20 different countries around the world, maintain a listing in London in order to meet the long-term needs of investors and access to diverse and deep pools of capital. We are also proud to be the centre of global liquidity for Irish companies with over 40 companies on our markets, gaining access through London to the deepest pool of international investors”.
Bernard Byrne, CEO of AIB said:
“Our listing on London Stock Exchange marks another important milestone for AIB and provides us with a platform to diversify our shareholder base within Europe and beyond”.
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