I read Ross's interview yesterday. seemed to me he sounded a bit afraid that the ECB is about to dilute his position in Eurobank. with a bet of over a billion you can see why he and his friend are sweeting. He might have been able to swing something with the Greek government but the ECB is a different story. threatening them that if they burn investors now that they won't invest in Greece again is funny. It's exactly what other scavengers like himself will do.
i personally admit i dont have a clue! Capital re-organisation may yield €3-4bn to the state alongside 2016 IPO
There is little new on the on-going discussions over the re-organisation of AIB's capital structure except the reference to the “scheduled redemption” of the €1.6bn state-owned CoCos in July 2016. This reduces the likelihood of their refinancing and lowers the size and/or near-term prospects for subordinated issuance. The fully-loaded (FL) CET1 capital rose 2.3ppts to 14.1% in H1 via profits and a lower pension deficit (€0.6bn from €1.2bn), which falls to 8.3% excluding the €3.5bn state-owned Prefs. If the SSM sets a 12% FL CET1 requirement, this may allow for €1.3bn to be repaid with the balance converted to equity, or €1.9bn on an 11% ratio or €2.5bn on 10%. Continued momentum on profits and restructures in H2 will raise the prospect of a near-term return at the higher end of the range.
these posts are jibberish. AIB doesnt own a single share, not one. I know there are not many shares in private ownership but there is a HUGE difference between private ownership being 1/523 as compared to 1/23bn. This is primary school maths! Your idea is factually wrong on every level.
... the value of the 500b block flows into the 23b block... as for private ownership.. aib owns 99.98 + of this stock. daily trade volume is so low... today there were 273,781 shares traded .. which should be an indication that not much in open market shares are left out to private ownership...
aib could benefit from this capital structure. no need for a reverse stock split or for aib to dilute itself.. a rise in aib share price would be beneficial for BKIR ... i believe aib has been holding the price on BKIR for a good while..
its only common sense that state dumps 500 billion prefernce shares ,but aib gives gives the goverment 99.8 percent of the 23 billion in float now .capital restructure fixed .what do you think of that solution
"the 500bn block" as you wrongly call it has a value (using your silly 0.08 cents but lets not argue that here) of e40bn i.e 500/523 *(.08*523). So you are asking the Minister of Finance to "liquidate" (which incidentally is the wrong word) this e40bn of value by passing it to the remaining 23bn shares. I would assume you are not an Irish taxpayer as that would be THE greatest fraud ever endured by the irish taxpayer for the benefit of those owning the 23bn of which I know 1bn odd is in private hands. If you still think yours is a good idea, my advice give the markets a wide berth. If you win it will be pure luck
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