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AIB and the Gov's Preference Shares

noodler · 2011-01-05 14:28:37

The Governent pumped €3.7bn into the bank last week. This will ultimately give it a 92.8% stake. However the Government also has €3.5bn in preference shares from 2009. So, my question, the bank still needs an additional €6.1bn so can some of this be paid by converting the 2009 shares? OR is it a case of requiring €6.1bn…

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05-01-2011 3:28pm

#1

noodler

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The Governent pumped €3.7bn into the bank last week. This will ultimately give it a 92.8% stake.

However the Government also has €3.5bn in preference shares from 2009.

So, my question, the bank still needs an additional €6.1bn so can some of this be paid by converting the 2009 shares? OR is it a case of requiring €6.1bn after the 2009 shares are converted?

I assume it is the latter as otherwise there would have been little point in pumping the €3.5bn in to begin with but just wondering if anybody can offer any insight.

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