Shares of AIB stopped trading in New York yesterday, bringing to an end the bank's 21-year history on the New York Stock Exchange (NYSE), writes Fiona Reddan.
The bank, which is almost 100 per cent owned by the Government, first listed its American Depositary Shares on the NYSE back in November 1990 and the ADS last traded at $0.68.
AIB took the decision to delist from the NYSE earlier this month due to the Government’s increase in its shareholding in the bank up to 99.8 per cent.
Savings in costs and administrative efforts were also a factor in the decision, according to the bank.
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As a result of the move, AIB will no longer have to comply with Securities and Exchange Commission regulations by filing a form 15F.
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