Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
THE MINISTER FOR Finance has sold 5% of the State’s shares in Permanent TSB.
The sale will generate €55.2m for the Exchequer.
Minister Michael McGrath, speaking today, said that the Irish Government believes that banking is an activity which should be provided “primarily by the private sector”.
The State holds a majority share in the bank because public taxpayer funds were used to recapitalise the bank after the crash.
The sale took place in collaboration with the NatWest Group, which also sold off a tranche of PTSB stock.
The State’s stake in PTSB has fallen from 62.4% to 57.4% as a result.
NatWest’s shares in the bank have fallen to 13.6%
The shares were disposed of by being placed in an accelerated book building process to investors.
Book building involves an underwriter determining the price at which the shares must be sold in an Initial Public Offer (IPO).
To achieve price discovery, the underwriter calls for bids from different institutional investors, like fund managers.
McGrath announced the transaction today – which was somewhat of a surprise.
He explained that PTSB returned to the Irish stock market in 2015 through an IPO.
“Since then, it has not been appropriate, nor at times even possible, to further reduce the State’s ownership in the bank. However, a strong economy, careful stewardship and the successful acquisition of a sizeable portion of Ulster Bank’s business have transformed PTSB,” he went on to say.
McGrath said that there was “significant demand” from a wide number of “local and international investors” that will help to “improve liquidity and interest in the bank”as the Irish state moves towards a wider disposal programme “in the coming years”.
That means the State plans to further significantly reduce its shares in the bank.
The Department of Finance was advised by N.M Rothschild & Sons Limited and William Fry LLP on the sale.
PTSB has welcomed the move by the Irish State.
Eamonn Crowley, the bank’s Group Chief Executive, said: “This is another important step in normalising the composition of our shareholder base and creating further liquidity in the Bank’s shares.”
“Furthermore it demonstrates market appetite to invest in PTSB following a period of transformational growth and supports our stated ambition to deliver value for the Irish taxpayer,” he added.
To embed this post, copy the code below on your site
If she’d have a gun herself this wouldn’t have happened, you know.
Guns are great.
Please.
Show some respect for the victim.
Typical Democrat.
No class!
I didn’t see you react much when tons of those hate speeches are poured on this site.
Typical Democrat?? You know we are not America right?
Typical Democrat. – WTF
joey you troll you’re talking about pumping people full of lead just above him. zip it up.
@Jester.
Chill out and put a sock in it.
‘You know we are not in America right’
Hard to tell here sometimes given the proliferation of Donald Trump articles.
Anyway.
Let’s not digress.
RIP.
Trolley Troll-land
‘Above him’
Ah, I see where you’re coming from. Actually, I run the system by date not popularity.
This was a tragic accident. My position ‘below’ is one of self defense. In the home.
Different scenarios altogether.
Typical Democrat, as opposed to what? Nazi? Communist?Dictator?
A troll calling another troll a troll………
I`ve seen it all on the journal now….
:-)
@Rob, while I am as eager to laugh at the little trumpets as the next man, no one can deny that the journal has been awful recently. It seems to be completely ignoring the many recent, domestic political events and putting all resources into Trump articles.
Not to mention the infestation of American style libtards.
Feck sake.
She didn’t stand a chance if she was black…
Who had a loaded weapon at as a prop at a ‘role playing’ exercise. That’s the equivalent of searching for gas leaks with a lighted candle!!!!
Its probably easier to use a real gun than find a ‘gun prop’ in America …
Idiots teaching idiots how not to be an idiot!!! Who goes to a gun seminar with loaded weapons anyway IDIOTS
playing (or ‘simulating’) with guns is not smart, though it might make you feel like you’re an anti-tyranny freedom fighter
I think it’s time for police forces to review their training methods. Seems to be a lot of itchy fingers to close to triggers.
I despise guns, but if I lived in many parts of the US there’s a good chance I think I’d feel I had no choice but to have one. Even in Ireland, I can understand people living in country areas with little or no policing having guns.
I lived in the Bronx for a while. First thing I did upon arrival was purchase a Colt handgun.
A man can sleep well at night knowing there’s a Peacemaker close at hand.
Being allowed shoot any a**hole who illegally enters your house with evil intent is one of the greatest pieces of legislation American lawmakers ever saw fit to pass.
I was in Astoria in Queens and it was grand, but yes, parts of the Bronx a fella would need something more for peace of mind back then anyway. This was before NY was cleaned up.
Compared to here where it’s highly likely that an intruder with countless previous convictions will get a slap on the wrist and freely roam the streets again to carry out more crimes.
Knowing there’s a strong possibility that upon intrusion the air will be filled with lead helps concentrate the mind of any punk.
For the record Joey is “Pro life”
i hope the first thing you did, before you first rushed out to get your hands on your very own gun to love and cherish, was to get a handgun permit
For the record Joey makes up stuff.
I’d have no hesitation in sticking a knife in an intruder if it happened here in my house. I made that decision a long time ago and have often thought about it since. I think the Padraig Nally case ten years ago focused a lot of minds, and the subsequent law change focused many more.
Actually I never had to use it, thank God, but it was comforting to know help was at hand particularly given the high rates of crime in the area.
@Rob.
No contradiction there.
Innocent life as opposed to someone with evil intent.
Kinda depressing that I would have to point that out though.
However.
http://www.kmov.com/story/32723542/meriwether-co-officials-arrest-3-in-connection-to-elderly womans-assault just one example.of horrific home invasion just this week – a lot of elderly ladies being targeted – this one beaten and set on fire – is no wonder people are fearful and feel they need guns for protection..
stop yer spoofing joey
Stop yer jesting…..joker.
what about people who like guns the engineering, the craftsmanship, the power etc… I hate that they can kill innocent people and some with issues can use to cause a massacre , but using this logic kitchen knifes should be outlawed as most knife murders are caused by kitchen knifes. Same with cars and a-lot of other things.
‘Irishman claims to have lived and worked in the Bronx’
Read all about it in ‘Great Hoaxes of the 21st century’
Hahaha.
JustMade, You can kill anyone with any object if you put the effort in. Guns are only made to kill though. They have no other everyday purpose unlike knives.
I’m not s librarian, but I think I’m going to buy a gun soon, a big gun,a big shiny gun! #librarianslivesmatter
It’s only legal in some states, and I’m not sure New York is one of those states.Anyway, the best gun to keep is a pump action 12 guage.The sound it makes when cocked usually sends the cocroaches scurrying.
There’s one common denominator, though;people.So, by the same token, people should be made illegal,right ?
“filled with lead”, you’re a complete mo***n Joey, and naming a gun ” Peacemaker”, that’s truly messed up.
Know something Gerry.
I stopped reading your comments a long time ago.
Joey, you do know that in New York a persons intrusion into your home does not give you the right to shoot them right? New York have neither the Castle Doctrine or Stand Your Ground laws. In court you’d have to prove that it was justifiable amd necessary
Shoot first – talk later – the key to survival.
RIP.i hope they throw the book at him.
Was that pun intended or.. lol
Not sure what happened here, I’ll wait on Jason Culligan to tell us the full and proper details. He knows a lot about guns and cops.
Jason will be along shortly, he is busy on another forum explaining why it is perfectly ok for some countries to drop bombs on other countries but not vice-versa.
He’ll be here soon having beaten himself off to “guns and ammo” magazine.
Jason backs up everything he says with real facts which is in complete contrast to the left who use emotions. More of Jason please
lol ‘real facts’, his typical facts come from right-wing opinion pieces, he has been proven wrong with actual facts on a multitude of occasions.
Yeah, he’s some boyo. People believe that it’s a left/right issue for cops to shoot unarmed people. It’s not, it’s just absolutely mental.
“Jason backs up everything he says with real facts” Hmmmmm
i think that was sarcasm
Yeah, if you call what Breitbart,etc.,spew,as facts.Yeah, sure…
is breitbart still an opinionated blog or are people trying to pretend its news now? i see arianna huffington is trying a similar, failed sidestep
Jason will tell us what she was shot with and why it was a poor choice of weapon to use in this type of situation. He’ll also tell us that 125 librarians dies in car accidents last week and that is much higher than one innocent woman being shot to death in a tragic accident while teaching people how to shoot people and so we have nothing to worry about except Hillary Clinton and Social Justice Warriors.
Guns are too dangerous to be freely available to any idiot that wants them. People who still dont understand probably dont realise they are idiots.
If you love guns then join the army.
or buy a computer game
Call of Duty, Black Ops(oops ?)2
American police just cannot help it
They have to shot somebody
their whole training structure needs to be changed
They are not an Army so they need to stop acting like one
Poorly trained,poorly educated police forces in America.If only they would read more books,even the Police training manual (if such a tome exists !) would be a start.
Was she Black?
No, she was a librarian…
What was her … erm … ethnicity?
Because y’know some people of some ethnicities probably should know better than to go near armed police, particularly in Florida (allegedly).
culture, boss?
Actually there is no corilation between etnicty and police shootings in the US its the same across the board as was highlighted in AN EMPIRICAL ANALYSIS OF RACIAL DIFFERENCES IN POLICE USE OF FORCE Roland G. Fryer, Jr Working Paper 22399 http://www.nber.org/papers/w22399 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 July 2016
Why in the hell did they have live rounds. This is stupidity on an epic scale. I’m so sorry for her family.
“unimaginable event” Says it all really. Did no one think that two people using live rounds in an exercise might just hit someone? That’s the problem nobody seems capable of thinking things through
police have said it is another case of librarians resisting arrest it is now time to take the guns away from the murdering police
Even while roleplaying they cant resist squeezing the trigger.
Never, ever, point a firearm at someone. A gun is always loaded, even when it’s not. Role play, where required, can be effected perfectly well with plastic, orange water pistols (which can never be confused with the real thing). (This is not the first such occurrence in the very same scenario in the US).
Pray?
Prey?
Spot the deliberate mistake class !
In the name of God do something about the guns over there
“The only way to stop a bad librarian with a gun, is a good librarian with a gun” – NRA
You couldnt make this up if you tried…..
The gun nuts in America justify being armed because its not ‘guns’ that kill people, its a mental health issue.
How was it an unimaginable event?
Did they ever here of blanks? Top brass should be sacked straight away.
Librarians lives matter.
Struggling to understand the relevance of her being a librarian to the story….? If she had say, worked for Burger King, would the headline have been “fast food restaurant worker shot dead in police seminar” ?
Not trying to be pedantic, just don’t get the relevance to the story?
That’s exactly what the media would have said.It creates some background.
Reads like an obituary. RIP.
have your say