Tuesday, 27 May 2014

Questions (117)

Seamus Healy

Question:

117. Deputy Seamus Healy asked the Minister for Finance the monetary amount at current share values by which the equity in Bank of Ireland held by the State was reduced due to the share placing by Bank of Ireland used to raise the money required to purchase the preference shares of the State in recent months; and if he will make a statement on the matter. [22694/14]

View answer

Written answers (Question to Finance)

As I stated in a recent Parliamentary Question, the State did not participate in the private placing in December 2013 which was part of the package to repay in full the State's investment in the Bank of Ireland Preference Shares. Therefore, the total number of shares of c4,512m held by the State prior to the placing remained unchanged following the placing. For the benefit of the Deputy, I set out the value of the State's shareholding both before and after the placing as well as today:

Date

-

Share price*

Value of State's BoI equity investment

3rd Dec 2013

Day before placing

26.9

c€1.214bn

4th Dec 2013

Day of placing

26.2

c€1.182bn

23rd May 2014

Most recent closing price

27.8

c€1.254bn

*Source: Irish Stock Exchange closing prices