The Government reduced its stake through a share placement to institutional investors, generating €652 million at €5.60 per share, Paschal Donohoe said in a statement.

“It is now a realistic target that the State could exit its position in AIB later this year should market conditions allow,” Mr. Donohoe said.

The State effectively nationalized AIB in 2010 after injecting €64 billion—equivalent to almost 40% of its annual economic output at the time—into the banking sector following a major property market collapse.

The Government invested €21 billion to rescue AIB, and Mr. Donohoe noted that €17.9 billion has been recovered so far.

Since 2021, the State has been gradually reducing its shares in AIB, following its 2017 IPO. It fully divested its stake in AIB’s main rival, Bank of Ireland, in 2022.