Conundrum31 May 2017 09:41
AIB on Reuters, 'The sale could raise about 3 billion euros, taking into account the bank's book value of 11.3 billion euros at the end of last year. That value has probably risen since then, after another quarter of margin growth, its payment of a 250 million-euro dividend this month and a further 11 percent gain in the value of euro zone banks so far this year.'
This valuation is completely at loggerheads with our rigged baby here, so either we are going to go up to that valuation, i.e. +30% or it's going to come down to ours. We are down 15% yoy, and the sector is up at least that. What will the prospectus and the take-up reveal, smiles all around or some very red faces ?