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RI is underwritten, no one will pay 50c a share when they can get them cheaper on open market.... so underwriter will have to buy all 13 billion shares at 50c, that reflects a dilution of 13:1. After the transaction the sp should be very close to 50c (average of 13 x 50 + 1 x present sp). ????????????
50 cents per share
any idea @ what price??????? any one
DUBLIN, Nov 19 - Allied Irish Banks Plc (ALBK.I) * Decided to halt the current sales process of AIB group (UK) * The board of AIB has decided to halt the current sales process of AIB Group * Allied Irish Banks to undertake a strategic review of its UK business * Allied Irish Banks expects a return to positive GDP growth of 1.75% in 2011 * Outlook in markets uncertain * Downturn in housing activity approaching a trough point where will no longer drag on growth * Requirement to raise e10.4bn capital will significantly improve capital position and ratios * Loan volumes, excluding any effect of nama, are down by c.6% in the 9 months to end sept * Bad debt charges remain elevated in the third quarter * Interim management statement * Reducing operating profits overall, and in each of our divisions, relative to 2009. * Intends to increase the size of its planned capital raising from e5.4bn to e6.6bn (Dublin newsroom +353 1 500 1529)
sorry lads,,,,,,,,im out,,,,,,,,,,,sold all of my holdings,,,,,,in both albk and bkir,,,,,,,,,,its going to be nerve racking for several days to come,,,,,who knows the out come.......good luck who r still in
AIB up 20% in the US, IRE up 33% looking good, IMS report tommorow
Talks to continue till next week,,,,,,after all Bail Out may not be needed,,,,,,,Now we can move on......
we may have seen the lows for a very long time to come,,,,,,,if ur not in,,,,,,,get in befor its too late,,,,,,could see this flying very soon
But are we following the yanks or the other way round? No significant loss today shows there is still confidence in this share dispite uncertain times I hope.
Looking good in the US for IRE up 7% but not as good for AIB up -2% I hope he hasnt sold out AIB to be nationalised??
Does anyone actually know when the rights issue is going to happen. It seems to me that it will have to be before the budget - and money being taken out of the economy - and around the end of the month when people get paid. It should result in ALBK being out of debt but the Gov being the biggest owner. Last time banks were bailed out they rose but not above £3 as profit taking - rightly so in the current situation - stopped it going any higher. They should rise but not as much as last time round, I guess about £2-50 max.
It seems to me Mr. Lenihan has already committed himself to buying billions of shares at €0.50. If he backs out of that we'll sue !...Better, however, if he returns our NAMA property to us. And uses EU money to backstop his general bank guarantee. So, AIB can raise new capital itself. And raise government (and EU) guaranteed funding.
If Lenihan takes money from the EU to prop up the banks what will it mean for us ??
9.6%
Up 9.6 in the US, maby we will get a run up to the rights
we need it to double before the irish economy is sorted out cos otherwise its going to take forever to get my money back! seriously though a few positive days and i think we could see a change of sentiment here and some buyers..
If this stays above 10% today ill be very happy
I agree, not for the faint hearted this
phew!!
DUBLIN (Reuters) - Ireland's "bad bank" will take on a last tranche of loans from struggling lenders at a 58 percent discount to face value, according to the National Treasury Management Agency (NTMA). NAMA is likely to pay 30.7 billion euros for a final consideration of 73.6 billion euros, representing a 58 percent discount, NTMA in a statement. Dublin set up the National Asset Management Agency (NAMA) last year to cleanse lenders such as Bank of Ireland (Dublin: BIR.IR - news) and Allied Irish Banks (Dublin: AIB.IR - news) of shaky property loans with a total nominal worth of 81 billion euros.
wow just jumped 10% as I was writing that!
Nice to see around 20 million shorters close at the beginning of the month, good signal for this share. All we need now is a good few days in a row and the other 80 million should close, and if that happens.... could double easily. Still a risky share though... need to get the Irish ecomony sorted out first.
we are off!!!!
I hope and pray you are right, I just dont believe they would have any intrest in us.