http://seekingalpha.com/instablog/9...-eur-later-this-month-massive-dilution-coming Summary: * On 01 July 2011, Allied Irish Banks announced that intends to raise 5 billion EUR in the new capital at a price of 0.01 EUR per share. * Current share price 0.14 EUR per share (14 times higher than offer price). * Proforma valuation is currently 71.71 billion EUR (0.14 * 512.245 billion shares), compared to 5 billion capital injection to be provided. * Plenty of downside remains despite stock trading near 52-week low.
Anomaly Makes Allied Irish Europeâs 5th-Largest Bank http://www.bloomberg.com/news/2011-...akes-rescued-bank-europe-s-fifth-largest.html snippets: The taxpayer last week bought 5 billion euros ($7 billion) of new shares in the bank for 1 euro cent each, giving it a 99.8 percent stake. That left investors with a stake valued at 100 million euros. Allied Irish has since traded at between 9 cents and 12 cents, for a market value of as much as 61.6 billion euros, three times the peak of Feb. 2007. âThe implied valuation of Allied Irish at about 50 billion euros makes little sense and seems to be an anomaly,â said Stephen Lyons, an analyst with Dublin-based securities firm Davy. âThe increase in the governmentâs stake has not been fully digested.â
and AIB going to be delisted on 25 August: http://www.aib.ie/servlet/ContentSe...=AIB_Press_Releas&channel=null&position=first