Investment banks working on AIB’s initial public offering warned potential large investors that orders below €4.40 per share risk missing out on the deal.
That would imply a minimum initial valuation of €11.9 billion for the bank as the transaction is set to price on Thursday evening, ahead of conditional trading of the shares in Dublin and London on Friday.
The Government and investment banks working on the deal narrowed the expected price range for the deal for the second time in two days on Wednesday, to between €4.30 and €4.50. A deadline has been set for noon on Thursday for final orders from potential large investors.