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AIB CEO says markets in a good place for an IPO

Reuters - UK Focus

DUBLIN, April 27 (Reuters) - Equity markets are in a good place for Allied Irish Banks (Berlin: 30544177.BE - news) to launch an initial public offering, Chief Executive Bernard Byrne said on Thursday.

Ireland (Other OTC: IRLD - news) has appointed several banks to act as bookrunners and global coordinators for the potential sale of a 25 percent stake in AIB and has said the nearest window to sell the shares would be between mid-May and early July.

"You need a few things to align. We have them all aligning at this point in time and markets are the variable so I certainly wouldn't be saying anything other than it's a good time, given the market," Bernard Byrne told reporters. (Reporting by Conor Humphries; editing by Jason Neely)