Ireland Pares Stake in Lender AIB Group Further With 5% Sale (2)

The Irish government raised about €652 million ($680 million) through the sale of a 5% stake in AIB Group Plc, the latest step toward the privatization of the lender.

Ireland sold about 116 million shares at €5.60 apiece to increase the amount returned from the government’s investment in AIB to about €17.9 billion, the Department of Finance said Tuesday. AIB’s share fell as much as 1.4% on the Irish stock exchange.

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