Vol. 519 No. 2
72 Mr. Yates asked the Minister for Public Enterprise if she will outline the proposed time schedule of the proposed IPO for Aer Lingus; if it is proposed to obtain an anchor stakeholder in the company prior to the flotation or procure an underwriter for the launch in the event of market difficulties; and if she has made any assessment of the likely proceeds to the Exchequer arising out of this sale. [13338/00]
The Government has announced its intention of completing the Aer Lingus IPO in the latter half of this year or early 2001 depending on market conditions and the satisfactory finalisation of all preparatory stages for the transaction.
It is not proposed to sell any equity in the airline to any anchor stakeholder prior to the initial public offering of shares in Aer Lingus.
A consortium involving Salomon Smith Barney and AIB capital markets has been appointed as the joint global co-ordinators and underwriters for the Aer Lingus IPO.
The likely scale of proceeds from the transaction is ultimately dependent on a number of considerations including the company's business plan, sentiment on international capital markets and, in particular, ratings given to international airline stocks generally. This will become clear nearer the date of the offering.
