Government raises €593m from latest sale of 5% stake in AIB

The Government's holding in AIB has fallen below 30 per cent. Photograph: Dara Mac Dónaill / The Irish Times Photograph: Dara Mac Donaill / The Irish Times logos logoThe trade reduces the State’s holding below the key psychological 30 per cent level to 25.5 per cent.

The cash recovery to date also includes proceeds from an initial public offering in 2017, redemption of bailout bonds, interest, guarantee fees and dividends.Switchbot S10 review: Floor-cleaning robot does a good job but needs a lot of attentionFair City bears the brunt as RTÉ shrinks for its ‘third age’

The new Minister for Finance, Jack Chambers, confirmed the placing on Thursday morning, adding that it the shares had been sold at €4.90 each, equating to a 2.7 per cent discount to their closing price on Wednesday. He has agreed not to sell any more shares for 90 days.

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