An article in The Times Ireland edition carries a story today on bank share sell-offs. In relation to AIB, the article notes that any share sale will need cabinet approval given the Programme for Government (between Fine Gael and the independent TDs).
The article suggests that the next AIB dividend is due to be paid in September (the interim one), so the article indicates that the window being considered by government is from late September to early December (for as much as a 20% stake, to allow AIB to remain in majority state ownership). The article suggests the government will await the dividend, coming as it does a few weeks prior to Budget 2019.
Furtermore, the article suggests that the government is also considering offloading its remaining 14% stake in BOI, with the market reaction to the new CEO’s updated strategy to be outlined at the CMD next week to prove an important input on timing. Moving to PTSB, the article reports that there are no plans to sell any further stakes in the short to medium term.
According to Goodbody Stockbrokers, "There has been some recent “chatter” on a stake sale weighing on AIB, so speculation on a stake sale is not a great surprise, with the timing in the article suggesting it is later in the year. Nor is the comment on PTSB. However, the suggestion that government could sell its BOI stake may heighten interest into the CMD next week (and would leave BOI free to pursue things like variable pay etc)."