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Irish state may delay pricing of AIB IPO after UK election

The pricing of Allied Irish Banks Plc's IPO may be deferred by several days to assess the impact of the U.K. election results on investor sentiment, The Irish Times reported June 9, citing unnamed sources.

The Irish government had planned to issue a prospectus and price range for the sale of 25% of its stake in AIB during the week of June 12, but sources told the newspaper that the decision could be delayed, potentially into the week of June 19. The government will monitor investor sentiment after the Conservative Party surprisingly failed to win a majority in the June 8 election.

Leo Varadkar is expected to be formally elected to serve as Irish taoiseach, or prime minister, June 14 and to shortly thereafter name a new finance minister, who will be responsible for the IPO pricing, the report noted.