£12 Billion Allied Irish Banks to Float in London

Britain’s Brexit IPO boom continues with the news that the Irish government will float state-owned Allied Irish Banks (AIB) in London and in Dublin. City AM reports the bank could be valued at as much as €12 billion, making it London’s biggest flotation since the 2011 Glencore IPO, and one of the City’s largest listings for two decades. Figures released earlier this month showed 20 IPOs took place in London during the first quarter of this year, raising £1.83 billion, up on Q1 2016, which saw 18 IPOs, raising £1.79 billion. This boom makes a mockery of market doom-mongers such as EY, who warned after Brexit: “IPO activity can be expected to largely cease in the next 12 months”. How’s that working out? 

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